Did Labour rule out a rise to National Insurance Contributions in its election manifesto? The document states that the party would “not increase taxes on working people”, including NICs. Yet every day, the signal grows clearer that employer National Insurance is set to rise.
Having ruled out increases to income tax, VAT and (apparently, only) employee NICs, the Government is now scrambling around for relatively small and increasingly niche pots of money. It is also looking to loosen the fiscal rules in order to fund further borrowing for investment.
