PM does not rule out NI rise for employers

Sir Keir Starmer has not ruled out a National Insurance increase for employers in the Budget, in a BBC Breakfast interview.

The Labour Party’s 2024 manifesto rules out raising National Insurance, income tax and VAT.

But Sir Keir side-stepped questions whether Labour’s promise not to raise taxes for “working people” covered employers’ National Insurance (NI).

Speaking in Downing Street, Sir Keir said this month’s Budget was “going to be tough” but would “focus on rebuilding our country”.

Employers currently pay NI at a rate of 13.8% on all employees’ earnings above £175 per week.

Speculation has been growing that the rate of NI paid by employers could go up next month to fill a £22bn “black hole” Labour says it has found in the nations finances.

On Monday, Rachel 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.

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