Millions of workers will be better off this month following a major change to national insurance contributions. The government has now reversed the 1.25 per cent hike that was brought in earlier this year, meaning workers will be taking home more of their pay.
The rise was introduced by Boris Johnson’s government, with Rishi Sunak as chancellor, in April. Mr Sunak devised the levy as a measure to help fund social care and deal with the NHS backlog.
But the hike was reversed by former chancellor Kwasi Kwarteng under the leadership of Liz Truss in his infamous tax-busting mini-budget last month. On Sunday, November 6, the reversal came into effect - despite Mr Sunak now being in charge at No 10.
