'We've Been Left Out to Dry' - National Insurance Hike Still Biting a Year On

'We've been left out to dry' - National Insurance hike still biting a year on

Business owners in London told the Local Democracy Reporting Service it's been a tough year since Rachel Reeves raised the tax

London’s hospitality sector reacts a year on from National Insurance rise

Punitive tax rises are stretching London’s hospitality sector to its limit, business owners have claimed. Last April Chancellor Rachel Reeves faced heavy criticism for choosing to top up the public finances with an extra tax on businesses. The policy, intended to raise £25billion from companies nationwide, saw National Insurance (NI) rates increase from 13.8 per cent to 15 per cent, while the payment threshold fell from £9,100 to £5,000. The imp…