Budget tax rises could push up childcare bills

Increasing employers' national insurance contributions could push up childcare costs for working parents, a Stormont committee has been told. Chancellor Rachel Reeves announced in her Budget that the rate of employer national insurance contributions will increase from 13.8% to 15%. She is also lowering the threshold at which employers have to start paying NI contributions from £9,100 to £5,000. Roger Pollen from the Federation of Small Businesses told MLAs there is a very real risk that many businesses will "crumple under the burden".