The pain of the national insurance increase will be felt by people on their next payday, as they try to juggle surging living costs on a shrinking pay packet, experts have warned (Nick Ansell/PA)
(Picture: PA Archive)There’s another blow in the cost of living crisis. From today the National Insurance increase comes into effect.
It means that workers, businesses and the self-employed will now pay an extra 1.25p in the pound.
This hits at a time when many are feeling financially vulnerable, inflation is at its highest level in thirty years, there’s rising household costs and the energy price cap already increased at the start of April by 54%.
The Evening Standard’s Consumer Business Editor, Jonathan Prynn, explains what this all means for Londoners who are already feeling the pinch.
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