Mar 14, 2022

Delaying National Insurance rise would be 'no problem'

A senior official previously charged with vetting the Treasury's plans has told the BBC chancellor Rishi Sunak can afford to postpone April's tax rises. April's National Insurance rise will tax the average worker £250 a year, and raise costs for firms which hire staff. In the post-war years, governments also managed to ramp up health spending without the tax burden soaring by cutting back on areas such as defence spending - but the war in Ukraine is putting renewed pressures on that area. Lord Macpherson says only the big three: income tax, national insurance or VAT can raise serious money. As the clock ticks down to the Spring Statement, Rishi Sunak may yet want to soften the blow of the immediate tax rises.

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