In 2021, Rachel Reeves criticized the Tories for increasing National Insurance, stating that it would make new recruits more expensive and burden businesses during a sensitive economic recovery period. Despite Labour’s manifesto pledge not to raise taxes on working people, Reeves hinted at a potential increase in the employers’ NI rate, emphasizing the need to address the gap in government spending. The chancellor also hinted at tax increases in the upcoming Budget, focusing on strengthening public finances and making tough decisions on spending and welfare.
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