TaxPersonal TaxBUDGET 2002: NI to rise 1% next April

BUDGET 2002: NI to rise 1% next April

The chancellor has announced national insurance contributions will increase by 1% from next April for employers, employees and the self-employed.

Gordon Brown said the move was to be introduced in an effort to raise an additional £5bn a year to be pumped into the NHS.

He added that the £30,420 personal allowance ceiling would remain in place but would be adjusted in line with inflation to £30,940.

He said: ‘Everyone should make a fair contribution to health insurance through national insurance.’

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