Chancellor mulls National Insurance hike for businesses - reports

Ahead of the Budget on 30 October

Businesses could face an increase in National Insurance in the upcoming Budget after comments from Chancellor Rachel Reeves signalled a potential rise.

Reeves said Labour's election pledge not to increase NI on "working people" related to the employee element, as opposed to the sum paid by employers, BBC News reported. Reeves said the Budget on 30 October would be "tough", but noted the difficult decisions would not turn firms away from investing in the UK because she will provide them long-term certainty about their taxation. Reeves rebrands UK Infrastructure Bank into £27.8bn National Wealth Fund The government has ruled out increasing VAT, NI or income tax. Reeves pledged to cap corporation tax, the levy paid by businesses on p...