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More space to scrap NIC hike than most think

With the beleaguered Prime Minister looking to win back support from his Tory MPs, one option reportedly being considered is postponing or scrapping the planned national insurance tax hike. On our forecasts, there’s plenty of fiscal space to delay the hike. That would save households and businesses around £6bn each in 2022/23, helping to alleviate some of the squeeze from the cost of living crisis.

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