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Reeves Announces Rise To Employer National Insurance Contributions
Transcript
00:00But any responsible Chancellor would need to make difficult decisions today, to raise
00:06the revenues required to fund our public services, and to restore economic stability.
00:14So in today's Budget, I am announcing an increase in employers' national insurance
00:18contributions. We will increase the rate of employers' national insurance by 1.2 percentage
00:25points to 15% from April 2025. And we will reduce the secondary threshold, the level
00:32at which employers start paying national insurance, on each employer's salary, from £9,100
00:38a year to £5,000. This will raise £25 billion per year by the end of the forecast period.
00:47I know that this is a difficult choice. I do not take this decision lightly. We are
00:54asking businesses to contribute more. And I know that there will be impacts of this
00:58measure felt beyond businesses too, as the OBR has set out today.

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