Government confirms repeal of National Insurance increase

In a statement released this afternoon (22 September), Kwarteng detailed that the increase of 1.25 percentage points, introduced in April this year to help fund health and social care improvements, will be repealed under new tax cuts. In conjunction, the Health & Social Care Levy will also be repealed, with the Chancellor stating that funding for health and social care services will be "protected" and remain at "the same level" as if the Levy were to remain. Prime Minister, Liz Truss, pledged to roll back the NI increase earlier this month as part of her strategy to reduce taxes for b...