National insurance contributions rise in the UK.
National Insurance contributions will “temporarily” rise by 1.25 percentage from the next tax year April 2022.
The government has said a typical basic-rate taxpayer earning £24,100 will contribute £180 in the 2022/23 tax year. Whereas a typical higher-rate taxpayer earning £67,100 will contribute £715. Additional-rate taxpayers make up just 2% of individuals affected, but will contribute nearly a fifth of the revenue raised.
By doing this increase, it will benefit the health and social care industry. Boris has stated this money “will go straight to the frontline” and it will improve the services speed and quality.