Low-wage workers face massive tax hike
This is a news story, published by The Centre for Policy Studies, that relates primarily to National Insurance news.
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minimum wage workerThe Centre for Policy Studies
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72% Informative
Businesses employing low-wage workers will see a massive hike in their tax bills in 2025 .
Chancellor's decision to raise employer’s National Insurance has led to a whopping 60% tax increase for businesses employing the lowest paid.
In 2024 , an employer paid 1,617 in NICs for each full-time employee on minimum wage.
In 2025 they will have to pay 2,583 - Overall, it will cost businesses 2,367 more to employ a low-paid worker on the minimum wage than it did in 2024 .
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