Everybody ready for their 10% NI increase then?

I for one didn’t realise this initially as I was thinking it was going up 1.25% not 1.25 percentage points!!
So whereas before it was 12% of your salary, it will now go up to 13.25% of your salary!
The usual Tory slight of hand there!!
News to me too.
 
April is also the time that the energy cap will probably go up by 50%+ and the new council tax bills will come out with a 5% increase, and all the while food inflation is off the charts.

I'm fortunate enough to not have to count the pennies, but even I'm getting worried about the cost of living. For people on low/fixed incomes it must be absolutely terrifying.
 
Taxes up yeah. The last 2 years wasn’t free but food, fuel and other items, building materials etc. It’s going to get tough.
Will interest rates start climbing?
 
Maybe I didn't understand your point. You said you were expecting a 1.25% rise, not an additional 1.25%.
A 1.25% increase of 12% = 12.15%.
Martin Lewis posted it……… they said and have it on the HMRC site as going up 1.25% whereas the true figure is 1.25% of your wages, so you pay 12% of your wages now in NI and will be paying 13.25% of your wages in future……at least another 10%.
 
It is rising 1.25% which is 10% higher than it was before
Yes I know. I just don't know why it is a big shock that 12+1.25=13.25
Martin Lewis posted it……… they said and have it on the HMRC site as going up 1.25% whereas the true figure is 1.25% of your wages, so you pay 12% of your wages now in NI and will be paying 13.25% of your wages in future……at least another 10%.
It's not another 10% of your wages though. Not great but I'm not sure where you think you were misled by sleight of hand.
 
As some have already said, this must be terrifying for people on the breadline. They are going to be afraid about how they will manage when all the hikes take effect.
 
Then there is this waiting in the wings.

wish ours were at 1%. Looking to fix a new mortgage soon, currently renting and building, although feel for those coming off a 2 year fixed as its going to be a massive hike. They are predicting a floating rate here of around the 6% mark.
 
Yes I know. I just don't know why it is a big shock that 12+1.25=13.25

It's not another 10% of your wages though. Not great but I'm not sure where you think you were misled by sleight of hand.
I’ve just explained it, it’s not 10% of our wages NI is going up 10% yet the government are still advertising it as 1.25%.
Percentage points and percent are not the same but I suspect you know that and know exactly where I’m coming from. We can afford it although pi**ed off but millions out there can’t.
 
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