Firms ‘set to pass on most of higher tax costs to employees through lower wages’

Employees are expected to bear the brunt of higher tax costs on businesses (Andrew Milligan/PA) - (PA Wire)

Employees are expected to bear the brunt of higher tax costs on businesses, with an increase to employer national insurance “highly likely” to hit jobs and feed through in lower wages, according to the Government’s official forecaster.

Chancellor Rachel Reeves announced the changes to the UK’s second-biggest tax in her autumn Budget statement on Wednesday.