Chancellor announces NI contributions to rise

Chancellor
Gordon Brown has announced that National Insurance contributions are to rise by
one per cent to cover increased spending in the NHS.

In
his Budget speech Brown said the extra tax will apply to everyone earning over
£4,615. The changes are due to start in April 2003.

But
tax credits given to people with children will offset the charge for many
families, he said.

The
Government also pledged £420m to help small firms put their payroll online and
to create a universal e-filing system.

Small
firms are also to be given £30m for Investors In People programmes.

By Quentin Reade

Comments are closed.