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The National (Scotland)
The National (Scotland)
National
Steph Brawn

Chancellor confirms National Insurance rise will be scrapped ahead of mini-budget

National Insurance Kwasi Kwarteng Insurance
Kwasi Kwarteng has said 'taxing our way to prosperity has never worked'

A 1.25% hike in National Insurance (NI) will be reversed from November 6, Chancellor Kwasi Kwarteng has confirmed ahead of presenting a mini-budget on Friday.

The increase in NI - designed to pay for social care and dealing with the NHS backlog -was introduced by Rishi Sunak in April, but new Prime Minister Liz Truss said she would change it.

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