Workers face losing hundreds of pounds from their payslips if the Government increases employers’ National Insurance contributions, analysis has found. Reports suggest that the Chancellor will increase National Insurance contributions for employers in Wednesday’s Budget.

British finance minister Rachel Reeves will increase employers' national insurance by up to 2 percentage points in the Oct. 30 budget as she seeks to fund the National Health Service (NHS) and balance the books,

Rachel Reeves is set to increase employers’ national insurance to help fund the NHS and balance the books, reports suggest. The chancellor will increase the tax by up to 2 percentage points, as well as cutting the earnings threshold at which businesses start making national insurance contributions.

Rachel Reeves is also expected to lower the threshold for when employers start paying the tax, in next week's Budget.

British finance minister Rachel Reeves is expected to impose national insurance on employers' pension contribution in her Oct. 30 budget, in a move that would largely exempt public sector workers, The Times reported on Tuesday.