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Rising National Insurance Hits Wages, Stalls Job Growth

5/9/2025

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Summary

Story summary

Rising National Insurance contributions are squeezing wages and stunting job growth, particularly for small businesses, according to the Bank of England. Experts caution that this could worsen inflation, potentially hitting a peak of 3.5%. With households still reeling from last year's crisis, the economic landscape remains precarious and fraught with uncertainty.

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Story summary

Rising National Insurance contributions are squeezing wages and stunting job growth, particularly for small businesses, according to the Bank of England. Experts caution that this could worsen inflation, potentially hitting a peak of 3.5%. With households still reeling from last year's crisis, the economic landscape remains precarious and fraught with uncertainty.