Rishi Sunak has announced that he will raise the National Insurance by £3,000 as he was forced to soften the blow of his tax hike on working people.
The Tory Chancellor used his Spring Statement to match the NI earnings threshold at which workers will start having to pay with the Income Tax, following months of pressure amid a looming cost of living crisis.
It means that workers will now start paying National Insurance on earnings above £12,570 a year, which is up from a planned £9,880 a year from April 6. It will take some of the lowest earners out of paying the tax, and save those still paying £330 a year.
