Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Starmer hints at employer national insurance rise but pledges to keep tax promises for workers

by October 15, 2024
October 15, 2024
Starmer hints at employer national insurance rise but pledges to keep tax promises for workers

Sir Keir Starmer has left the door open for an increase in employers’ national insurance contributions, despite Labour’s election pledge not to raise taxes on working people.

The prime minister confirmed that “tough” decisions would need to be made in the upcoming budget, but stressed Labour’s commitment to its manifesto promises.

During the election campaign, Labour vowed not to increase national insurance. However, while Starmer and Chancellor Rachel Reeves have reiterated that this pledge covers taxes on workers, they have stopped short of ruling out an increase in the portion paid by employers.

Reeves warned businesses that taxes would need to rise to ensure economic and fiscal stability. She argued that businesses are more concerned about political stability than tax levels, and promised a “business tax roadmap” to provide certainty for investors in the years ahead.

She said that employers’ contributions were “not in the manifesto”, arguing: “We were really clear in our manifesto that we weren’t going to increase the key taxes paid by working people.”

Labour’s manifesto stated: “Labour will not increase taxes on working people, which is why we will not ­increase national insurance, the basic, higher, or additional rates of income tax, or VAT.”

Laura Trott, the shadow chief secretary to the Treasury, said: “Regardless of what they say, it’s obvious to all that hiking employer national insurance is a clear breach of Labour’s manifesto.”

However, Labour sources pointed out that Trott had criticised Reeves during the campaign for “conspicu­ously” refusing to rule out increasing employer contributions.

The potential rise in employer national insurance contributions has drawn criticism from some business leaders, who argue that taxing employers risks stifling jobs and enterprise. The Federation of Small Businesses cautioned that such a move could place undue pressure on small employers.

Read more:
Starmer hints at employer national insurance rise but pledges to keep tax promises for workers

0
FacebookTwitterGoogle +Pinterest
previous post
Harris’ off-putting manner put Zelenskyy on defensive ahead of Russian invasion, new book reveals
next post
The Future Of Recruitment: A Guide To Stay Ahead In A Changing Landscape

You may also like

Biden the reason UK missed post-Brexit trade targets...

January 24, 2024

Moonpig bounces back from Royal Mail strikes to...

March 31, 2023

UK tech investment falls 57% according to new...

June 8, 2023

Key points as Jeremy Hunt announces Spring Budget

March 15, 2023

Evelyn Partners to acquire boutique wealth manager Dart...

June 12, 2023

Center Parcs backtracks on Queen’s funeral closure plans

September 14, 2022

Regional disparities can be tackled by more devolution...

September 25, 2023

Oxford Said alumni win £700k UKRI backing to...

June 12, 2025

Audoo rockets to $22M in funding with investment...

October 10, 2023

Car finance complaints widened to cover leasing deals,...

December 20, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump’s Debanking Order Calls for Investigation, Something Tennessee Should Have Done

      August 9, 2025
    • MIKE DAVIS: Eric Tung is Trump’s pick to bring sanity to the Ninth Circuit

      August 9, 2025
    • How Europe’s car industry can survive the Chinese EV challenge

      August 9, 2025
    • Hiring Software & JavaScript Developers: Skills, Costs, and Best Practices

      August 9, 2025
    • Rakhi Butani on Skincare, Cooking, and the Power of Balance

      August 9, 2025
    • Jeremy Clarkson warns of ‘catastrophic’ UK harvest as farmers battle extreme weather and rising costs

      August 9, 2025

    Categories

    • Business (8,728)
    • Investing (2,191)
    • Politics (16,345)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved