The increase in national insurance will be reversed from November 6, Chancellor Kwasi Kwarteng has confirmed ahead of Friday's mini budget.
A 1.25 per cent increase in national insurance was announced by former Chancellor Rishi Sunak to help fund health and social care across the country.
Ahead of his mini budget on Friday, Kwarteng said: "Taxing our way to prosperity has never worked. To raise living standards for all, we need to be unapologetic about growing our economy.
