employee national insurance comes off your monthly paycheck and employer national insurance does not directly from the company to the government. but the direct impact of national insurance is a different matter. ecomists who carefully studied the direct impact on the national insurance, most of it in the end falls not on the company and shareholders but the employees in the form of lower wages that otherwise would have been paid and less hiring than otherwise would have had happen. so in this sense would be a tax on working people and why many have described employer national insurance as a tax on jobs. it's estimated that imposing full national insurance on employers' pension contributions could raise around nine billion pounds a year and understandable why rachel reeves has billions of pounds on the books is examining it. but warning the chancellor raising more money from employer national insurance complicates and diorts the tax system and jobs market and in a way risks holding back growth. regina: that's ben chief from the bbc verify team and our correspondent is in westminister

national insurance , whereas the national insurance, whereas the national insurance, whereas the capital, there seems to be a level of denial suggests this one's coming through. what worried me in some ways more than the fact of it and this comment from the chancellor a few years back is the way in which yesterday, when people were chasing, i think chris hope chased down and it was the oh, it was there. it was there on a manifesto. you weren't clever enough to notice. and it was this strange , strange and it was this strange, strange approach as a. yeah, yeah, it was always there. we were always going to do it. but you didn't spot it. you read our manifesto. it was we just talked about workers. we didn't talk about employers. but of course, in the endifs employers. but of course, in the end it's the same thing. and what with the workers rights legislation that's being pushed through, it's almost like a punishment for employing somebody, particularly in a small business, that don't have the compliance departments, don't have the vast levels of investment when it comes to small businesses.

it said we will not raise the rates of national insurance.ink miss reeves should go back to school and learn to read once again, because labour isn't interested in real growth or indeedin interested in real growth or indeed in telling the truth. it's more focused on expanding government controls, re—engaging with the eu and making it harder for businesses to thrive. and it's the rest of us who will suffer. as ever, let me know what you think. mel. margaret gb news com. but i'm now joined by an enormously successful businessman, the founder of carphone warehouse and the chairman of the national portrait gallery, david ross. david, thank you for coming in. >> good evening. good evening jacob. and it's very nice to see you. >> you're a businessman. what would you like to see that would increase growth? >> well , firstly, i think it's >> well, firstly, i think it's fair to say that a lot of businesses have been very heartened by the sort of messages that were coming out of the government today, and they clearly going down a route of encouraging b

the largest chunk of this comes from increasing the amount employers pay in national insurance.by the end of the forecast period. i know that this is a difficult choice. i do not take this decision lightly. we are asking businesses to contribute more. the government�*s opponents say this breaks a manifesto promise not to increase national insurance. labour insists the pledge applied only to employees, but the chancellor decided against extending a freeze on tax free allowances, which could have led to 400,000 more people paying tax for the first time. i am keeping every single promise on tax that i made in our manifesto. so there will be no extension of the freeze in income tax and national insurance thresholds beyond the decisions by the previous government. the biggest beneficiary of the tax rises will be the nhs in england, with a £22 billion boost to its day to day spending. this is the largest real terms growth in day to day nhs spending outside of covid since 2010. but the outgoing leader of the opposition accused labour of not being straight with voters on. of not being s

let me explain where the national insurance fits into that.e minister sir keir starmer has said that his two key economic priorities are growing the economy and dealing with what the government claims is a £a0 billion so—called black hole in the public finances. but during the election campaign the labour party pledged in its manifesto that they would not raise taxes for "working people", including on income tax, national insurance and vat. restricting the room for tax rises, meaning the chancellor may look elsewhere to make changes. in an interview yesterday on breakfast the prime minister did not rule out a potential rise in national insurance paid by employers. we were very clear in the manifesto that we would not be increasing tax on working people and we expressly said that was income tax, that was nics, etc, so we set that out in the manifesto. but nics just for employees? we were very clear in the manifesto at what we were saying is we're not going to raise tax for working people. national insurance contributions are the second biggest

rachel reeves is on — or national insurance of vat.reeves is on her _ or national insurance of vat. rachel reeves is on her feet. _ or national insurance of vat. rachel reeves is on her feet. i _ or national insurance of vat. rachel reeves is on her feet. i have - or national insurance of vat. rachel reeves is on her feet. i have a - or national insurance of vat. rachel reeves is on her feet. i have a huge| reeves is on her feet. i have a huge amount of— reeves is on her feet. i have a huge amount of effect _ reeves is on her feet. i have a huge amount of effect for _ reeves is on her feet. i have a huge amount of effect for the _ reeves is on her feet. i have a huge amount of effect for the right - amount of effect for the right honourable gentleman, steered our country through a very difficult time after the mini budget. 4000 higher in 2023. we are committed to boosting economic growth to turn around this. whilst welcome from millions of families, there are still more to do. earlier this month we delivered our first international inv

for us national insurance _ business? for us national insurance is _ business?ess? for us national insurance is an issue - business? for us national insurance is an issue but | business? for us national. insurance is an issue but we would — insurance is an issue but we would much rather have the growth _ would much rather have the growth economy and growth as a business. — growth economy and growth as a business, and actually we can manage — business, and actually we can manage that within the business. but what i suspect we are going — business. but what i suspect we are going to see is all our subcontractors will increase their — subcontractors will increase their prices to reflect the insurance price.- their prices to reflect the insurance price. there is a subtlety. _ insurance price. there is a subtlety. you _ insurance price. there is a subtlety, you can - insurance price. there is a subtlety, you can absorb l insurance price. there is a i subtlety, you can absorb the cost of the increase in national insurance but it might have a knock on that squeezes gro

of the workforce into the national insurance bracket and that amounts to a tax bill of £25 billion forchief economist at pwc and explained that the budget is very much a case of short—term pain for hopefully long—term gain. i pain for hopefully long-term aain. ., pain for hopefully long-term i ain, ., ,., , pain for hopefully long-term rain, ., , �* gain. i would say i'm quite sympathetic _ gain. i would say i'm quite sympathetic to _ gain. i would say i'm quite sympathetic to the - gain. i would say i'm quite i sympathetic to the chancellor who had to navigate a difficult situation with high public debt, no net growth and deal with the political constraints on the manifesto but i think the budget was big in terms of scale and policy direction and i think there were three main tests for businesses. one with respect to the cost of labour and we saw three main changes, the employment rights bill, the increase in employers national insurance contributions and the changes to minimum wages. in isolation is are good policies but put together that is a big change for businesses they will have

will pay national insurance at higher rates and at a lower threshold, meaning more of the workforcee pulled into that national insurance bracket, amounting to a tax bill of some £25 billion for businesses. let's speak to the chief economist at pwc. good to have you here. the dust has settled, people have been through the fine print, and they wonder if in your view, what the chancellor says is that this is short—term pain and long—term gain. do you agree? i think that is right. i would say that i am quite sympathetic to the chancellor. she had to navigate a difficult situation with high public debt, low chronic growth, deal with the political constraints on her manifesto, but i think the budget was big, both in terms of scale and policy direction, they think they were main tests of businesses here. one was passed with respect to labour, and there were three main changes, the employment rights bill, the increasing employers national insurance contributions, and the changes to minimum wages. in isolation, these are good policies, but put together, that is quite a big change for busines

we have got national and insurance - got national and insurance increasing, and we have the increasemum — increasing, and we have the increase of minimum wages, which is great. what _ of minimum wages, which is great. what i'm _ of minimum wages, which is great. what i'm missing in here as support for small— what i'm missing in here as support for small businesses. where is it coming _ for small businesses. where is it coming from? we deal with the price increases _ coming from? we deal with the price increases daily and weekly, we cannot— increases daily and weekly, we cannot handle that properly. we do not know _ cannot handle that properly. we do not know how we can deal with this in the _ not know how we can deal with this in the long — not know how we can deal with this in the long term.— in the long term. could you put the rice of in the long term. could you put the price of fish — in the long term. could you put the price of fish and _ in the long term. could you put the price of fish and chips _ in the long term. could you put the price of fish and chips up? - in the long ter

for us the national insurance _ leave you? for us the national insurance is _ leave you?t - leave you? for us the national insurance is bad, but we - leave you? for us the national| insurance is bad, but we would leave you? for us the national- insurance is bad, but we would much rather have growth and we can manage that within the business. but what i suspect we are going to see is other companies will increase their prices to reflect the insurance hike. you could absorb _ to reflect the insurance hike. you could absorb the _ to reflect the insurance hike. you could absorb the cost of the increase in national insurance but it might have that not one that squeezes growth? absolutely. growth, the key thing here in greece the man who used to be chancellor. tt is who used to be chancellor. it is businesses _ who used to be chancellor. it is businesses paying _ who used to be chancellor. tt 3 businesses paying their taxes that in the end pay for our public services. what we did not hear yesterday was a plan to grow the economy and that is what we need. the day after a budget

national insurance contributions are the second biggest tax, after income tax. employees and self—employed workers on their earnings and profits, and by employers on top of the wages they pay out. the contributions paid out by employers accounted for more than 60 % of revenues from this particular tax last year. research suggests that an increase of one percentage point on that rate — known as "class one national insurance" could raise £8.a5 billion in the next tax year. if the rate went up two percentage points — that would raise around £17 billion extra. but experts say it's important to balance any rises against the potential impact, especially on small businesses. depending on the size and when it happens, the potential positives are are more money for the growth of the growth agenda, investment in infrastructure which will impact productivity. but on the negative side, if you are a small business working with thin margins, it is a big hit to your profitability, you could be less inclined to hire more people or even outsource some of your spending which woul

they also said that they would not increase national insurance, vat or income tax.hat's become complicated is that those two pledges were mashed together in one sentence, and different people clearly have taken different meanings. lots of people thought that that amounted to the working people bit was a kind of nice literary way of conveying the pledge to not increase national insurance, vat or income tax. it now turns out to be the position of this government that what it really was, was a way of qualifying that pledge, and it was qualifying it by saying that it was only talking about the employee rate of national insurance, but not the bit paid by businesses. and we are now reporting, it is now established fact that in this budget, the bit of national insurance paid by employers is going to go up. and that's politically complicated for this new government, partly because people think that's just not what the manifesto said, but also because a lot of people who run businesses, especially small businesses, would believe that they themselves are working people and th

your national insurance bill is about to go up. but what i suspect we will seize all our subcontractors will increase their pricing to reflect the insurance right. there is a subtlety there, you can absorb the increase in national insurance but it might have the knock on that squeezes growth? absolutely. the knock on that squeezes growth? absolutel . , ., , " , absolutely. growth, they key thing here, absolutely. growth, they key thing here. agrees _ absolutely. growth, they key thing here, agrees the _ absolutely. growth, they key thing here, agrees the man _ absolutely. growth, they key thing here, agrees the man who - absolutely. growth, they key thing here, agrees the man who used i absolutely. growth, they key thing here, agrees the man who used to | absolutely. growth, they key thing i here, agrees the man who used to be chancellor. tts here, agrees the man who used to be chancellor. , , , , , , here, agrees the man who used to be chancellor. , , , ,, , chancellor. its businesses paying their taxes _ chancellor. its businesses

national insurance helps fund the state pension and some benefits.s pay it on a worker's earnings above £175 a week, at a rate of 13.8%. now, it's thought at the budget that could be put up to more than 15%, and the chancellor may also lower the threshold at which the treasury starts collecting it. now, employees earning more than £242 a week also contribute 8% themselves. it's thought that won't change. labour believes that fulfils a manifesto promise not to raise taxes for working people. but some sectors have faced years of rising costs, like hospitality, which employs more than 3 million people, and leaders say this is another devastating blow. this is a tax on jobs. however it comes through, whoever�*s bank account it comes out of, the net effect is that this limits job opportunities, it limitsjob creation, it limits investment in people and skills. it is felt by working people. the bbc understands the chancellor is not now likely to bring in a levy on employer pensions contributions as well. but these two changes to employer national insurance

now, labour gave a clear commitment not to raise national insurance. the independent iss have given their review on this. they say that raising employer national insurance is a tax on working people. even the chancellor said that raising employer national insurance was a jobs tax that will make each new recruit more expensive and increase the costs to business, so does she agree with the ifs and their own chancellor? ms. rayner: mr. speaker, i remember the party opposite, when they said f to business, whereas this party held a business investment summit last week that put 300 billion pounds into our economy. we are pro-business, pro-worker, and getting on with the mess that they left. >> i think we can take it from that answer that the deputy prime minister does not agree with the ifs and i suppose it should not come as a surprise that she doesn't agree with her chancellor, but does she agree with this? and i quote, "working people will pay when employers pass on the hike in national insurance." mr. speaker, the are her words, so does she at least agre

national insurance helps fund the state pension and some benefits. earnings above £175 a week. it's thought the rate could rise to over 15%. workers themselves add in 8%, but that rate is not expected to change. which labour believes keeps a manifesto promise not to raise taxes for working people. business leaders say it still amounts to a tax on jobs, which could affect decisions on hiring, pay rises, and expansion plans. in the united kingdom, we have 99% of our businesses are small and medium, and if we don't encourage the environment for those businesses to grow, then the economy doesn't grow. the bbc understands the chancellor is now not likely to bring in a levy on employer pensions contributions as well. but these two changes to employer national insurance contributions could be the single largest revenue raiser at next week's budget. the conservatives have accused labour of reinventing what counts as a working person, but a government source said the money raised would help fund the nhs, and that asking businesses to help out was part of the

it is possible to be pro—business, progrowth and pro—worker but with a massive increase in national insurancee expensive and more complex to hire people and that will deter morejobs and complex to hire people and that will deter more jobs and more growth. deter morejobs and more growth. but government promises to map out a brighter future government promises to map out a brighterfuture and government promises to map out a brighter future and invest billions in crucial infrastructure got a more positive response.— in crucial infrastructure got a more positive response. what we did hear from the chancellor _ positive response. what we did hear from the chancellor were _ positive response. what we did hear from the chancellor were some - positive response. what we did hear from the chancellor were some of i positive response. what we did hear. from the chancellor were some of the other things we have been asking for, so that long—term strategy and industrial strategy and that investment. so investment in infrastructure and building schools, hospitals, homes and that is really important because t

some £25 billion will come from a rise in employers�* national insurance contributions.increase to capital gains tax, levied on profits from selling assets like shares, the surcharge on stamp duty for second homes in england and northern ireland will go up too, to 5%, as of tomorrow. so what will it be spent on? £22.6 billion pounds will go to the nhs in england for its day—to—day spending. investment in education to pay for maintenance and buildings will increase to £6.7 billion in england next year and an extra one billion of which is earmarked for special educational needs. and £11.8 billion has been put aside to compensate victims of the infected blood scandal. there's £1.8 billion, too, for victims of the post office scandal. the opposition leader rishi sunak described the budget as "an enormous borrowing spree" that contains "broken promise after broken promise". tonight we're in lowestoft to look at what the budget means for you, we'll get reaction from people here in the town. but first, let's go straight to our political editor, chris mason in westminster — to g

because when they said we will not raise national insurance , i not raise national insurance, i naturally that would apply to the whole of national insurance, not just half of it. is that is that me being silly? is that is that me being silly? is that is that me being silly? is that me being dumb? should i have only thought that that only appues have only thought that that only applies to national insurance or to half of it? i mean, most of us did presume that it applied, that they were ruling out increases to any kind of national insurance. >> but interestingly, darren jones, the chief secretary to the treasury, was interviewed in august, i think, in the telegraph. and he said something about how we've got no plans to put up employee national insurance and unsurprisingly, journalists jumped on that and said, well, why are you only ruling out half of this equafion?| ruling out half of this equation? i think one thing that is fascinating is if you go back over the last couple of years, they really have not been completely honest about these plans. they were honest around the time of the ele

you also have the hike in employers�* national insurance.ages won�*t rise by as much as they otherwise would have done. but we have been used for years now with pay not keeping up with inflation. in the last year with inflation. in the l

to fund _ manoeuvre upping national insurance to fund the _ manoeuvre upping national insurance to fundnd the nhs. and it does help when you — to fund the nhs. and it does help when you are changing strategy like this to roti— when you are changing strategy like this to roll the pitch with the market _ this to roll the pitch with the market. they are changing things like the _ market. they are changing things like the target as we discussed last week— like the target as we discussed last week and _ like the target as we discussed last week and they want that to land well in the _ week and they want that to land well in the markets because as one of the spending _ in the markets because as one of the spending rises, the injection into public— spending rises, the injection into public services, they are raising taxes _ public services, they are raising taxes by— public services, they are raising taxes by the same amount roughly, that's— taxes by the same amount roughly, that's their— taxes by the same amount roughly, that's their new role. the reason they're _ that's their new role. the r

tte: government is trying to raise the employer rate of national insurance, with many hints from ministersto rise to fund a big boost in the nhs budget, employer national insurance put at the chancellor is also expected to lower the earnings threshold at which employers start making national insurance contributions at these two measures combined are expected to raise about £20 billion for public services which is likely to be the biggest tax rising measure in the budget next week. as the labour manifesto promised to are not raised vat, income tax or national insurance, this will absolutely be contentious and fought over between the parties but the chancellor is likely to argue it will not directly affect employees put up with the cbi and other business groups have already warned that if this happens, it could chill their ability to hire new employees. tonight government source said there is universal consensus that the nhs needs money and that means asking businesses to help out putted the choice, they said, is investment versus decline. we will get the full budget in about four days' time

it says in black and white, we won't increase national insurance, income tax and vat.l ask you again, why are people who run businesses not working people in this government's eyes? as i say, our manifesto was very clear about who we were talking about and what we meant. why do measures, other spending and taxation measures within the budget. you'll appreciate the chancellor will set all of those out, and it's more than myjob is worth to come on your programme and announce ahead of time what might or might not be in a budget. i'm not secretary of state asking you about the decisions on wednesday. i'm asking you what you mean as a government, what you meant in your manifesto by working people. the definition of this is incredibly important because you're using it as the foundation for how you make decisions about people's payslips, people's income. so how do you define a working person? well, you are inviting me to speculate by the nature of the question that you're asking. what i'm saying is that after the budget, when people look at their payslips, they will not see h

now let's just talk about national insurance for a second. >> first, in the manifesto throughout theampaign. i'm sure everyone by now is familiar. what they said now is familiar. what they said no tax rises on working people , no tax rises on working people, which included national insurance. >> it was there in black and white in the manifesto, except to be reading this with a fine tooth comb, rather than just applying common sense . applying common sense. >> because actually, now they're saying that we suspect they're saying that we suspect they're saying they're not denying that they will charge national insurance on pension contributions from the employer. so employer's side of the national insurance contributions will go up, which will mean it'll be more expensive to hire people, more expensive to give people, more expensive to give people pay rises . people pay rises. >> but that doesn't. >> but that doesn't. >> apparently that's not a tax on working people. also capital gains tax. >> there's a suggestion that will go up as well. >> it was suggested even 39%, although the prime

the chancellor rachel reeves is set to increase the amount uk employers pay in national insurance, whennnounces the budget next week. the move is expected to be the single largest revenue raiser. with me is our political correspondent shelley phelps. what is the plan here? budget isn't even _ what is the plan here? budget isn't even here _ what is the plan here? budget isn't even here but _ what is the plan here? budget isn't even here but were - isn't even here but were already finding out quite a lot about what is going to be in the budget. the chancellor is going to be increasing the amount of national insurance contributions paid by employers. we also understand that the chancellor is going to lower the threshold at which employers begin paying national insurance company to be a shins. this is likely to be controversial. and the government will be accused of breaking a promise on this because it said in its manifesto that it wouldn't put up manifesto that it wouldn't put up taxes for working people when it came to national insurance, vat or income tax. conservatives will look at thi

national insurance contributions?? i set out our promises — contributions? i set out our promises in _ contributions? i set out our promises in our _ contributions? i set out our promises in our manifesto. | contributions? i set out our. promises in our manifesto. we are returned with a huge majority. and i stick to my promises in the manifesto. i notice it's question three and he hasn't yet welcomed the investment into this country. we've had investment ofjobs in amazon... jobs across the north—east. £22 billion on carbon capture. 500 million for uk buses in northern ireland. we are investing in our economy. what are they doing? they're arguing about whether to scrap the maternity pay. i’m to scrap the maternity pay. i'm very happy _ to scrap the maternity pay. i'm very happy to _ to scrap the maternity pay. i'm very happy to welcome investment that this government negotiated. when it comes to his answer on tax, businesses across— his answer on tax, businesses across the _ his answer on tax, businesses across the cou

does his commitment to not raise national insurance applies to both employee and employer national insurance contributions? >> you can see our promises and our manifesto. i stick to my promises in the manifesto. i noticed question three. we have had in recent months 8 billion pounds from amazon for jobs across the country, 10 million pounds from blackstone for jobs across the northeast, 500 million for u.k. buses in northern ireland. what are they doing while we invest in our country? they are arguing whether to scrap maternity pay. >> mr. speaker, i'm welcome -- when it comes to his answer on taxes, businesses across the country would have found his answer asked about as reassuring as sue greene did when he promised to protect her job. so let me -- it is no wonder that confidence is plummeting. turning to another commitment both for the election his chancellor said that changing the debt target would be tantamount to fiddling the figures. does he still agree with the chancellor? >> this is literally the man who -- 14 years -- [indiscernible] we will fix it and it is only because we have sta

. >> i say to working people i would not increase your national insurance.not increase your vat. i will not increase your income tax. >> in the u.s. election, donald trump and u.s. -- can't jump in, harris continue their tour of states with both holding competin events in the state of north carolina. the first case of mpox has been detected in the u.k. ♪ welcome to the world today where we bring you an hour of international news from the bbc. we come on air with developing news from spain and at least 95 people have been killed after flash floods hit on the south and east of the country. one region in valencia received their equivalent of one years worth of rain in eight hours. cars have been swept away and infrastructure like roads and bridges have been severely damaged. these images were taken by someone living in valencia and they give you a sense of the power of these floods. the conditions make it incredibly difficult as well as dangerous for anyone stuck indoors to. escape from their homes. rescue workers have been using helicopters and boats in attemp

that national insurance or vat?at commitment applies to both employer and employee national insurance contributions. >> minister. mr speaker, as he well knows, i'm not going to get drawn on decisions that will be set out. we made an absolute commitment in relation to not raising tax on working people. he, of course, was the experts expert on raising taxes. and what did we get in return for it? we've got a broken economy, a broken public services and a £22 billion black hole in the economy. we're here to stabilise the economy and we will do so. >> leader of the opposition. >> leader of the opposition. >> mr speaker, i do not think even lord alli is buying any of that nonsense, but i'm not. >> but i'm not asking. >> but i'm not asking. >> mr speaker, i'm not. i'm not asking about the budget. i'm not asking about the budget. i'm not asking about the budget. i'm not asking about the budget. i'm asking about the budget. i'm asking specifically. i know i'm asking specifically. i know i'm asking specifically. i know i'm as

..national insurance, vat or income tax. those were the commitments we made in our manifesto.ll. be set out in our budget on the 30th of october. | these events are predictably upbeat, but the budget is likely to see businesses like these hit with higher costs and taxes — an altogether more painful affair. simonjack, bbc news, the guildhall. the old bailey has heard that a ten—year—old girl, found dead in her home in surrey last year, had suffered dozens of injuries. sara sharif�*s father, urfan sharif, her stepmother, beinash batool, and uncle, faisal malik, all deny murder. the jury was told the three fled to pakistan before the body was discovered and her father then called police to admit that he'd killed his daughter. urfan sharif now claims he did that to protect the child's stepmother. the american hip—hop star sean combs, known as "diddy", is facing a series of new sexual assault allegations in the us. six new lawsuits were filed in court today by men and women accusing him of sexual assaults and rape. sean combs is currently in prison awaiting trial for criminal charg

the government is expected to announce a series of tax hikes including national insurance paid by employers and spending cuts worth tens of billions of pounds. sir keir starmer will also promise "better days" ahead. the chancellor's statement is expected to be one of the most significant in recent history. the conservatives have already accused the government of "broken promises". let's speak to our political correspondent helen catt. this is the big moment for chancellor rachel reeve so why are we hearing from the prime minister today? fix, are we hearing from the prime minister today?— minister today? a fair question. _ minister today? a fair question. usually - minister today? a fair question. usually in l minister today? a fair l question. usually in the minister today? a fair - question. usually in the lead up question. usually in the lead up to the budget we get a lot of central government saying we cannot talk about it, a lot of thatis cannot talk about it, a lot of that is around trying not to move the markets. this time, we have quite a lot of detail of the budget, and the broad thr

flood insurance program at something like 95% of all of the policies that are issued or issued through the nationalance program. so that's ultimately backstopped by the federal government who then has enges in some relationships with different uh -- different t dollars through the treasury, but also increasingly through things like reinsurance markets and other types of private markets to help cover that. you would still go and purchase this the way you would other kinds of insurance through a private insurer, but it is ultimately backstopped through the national flood insurance program. john: what's this doing to the insurance industry with greater storms, bigger storms, and hurricanes in florida, wildfires in california. jeffrey: yeah, to be totally honest, it's putting them under . a lot of insurers are pulling out of areas with high hazards. we've seen this in california and other wildfire prone areas. we're seeing it in markets like florida and louisiana, where they're just increasing losses as a result of storms, and they have to pay out these record payouts. they just don't have a recourse i

about half of that will be in the form of a rise in employer national insurance.abour, part of their manifesto promise. the rest could come from capital gains, inheritance tax, may be fuel duty. it seems like a huge amount, but previous government did not leave enough cash in their day—to—day kitty for public services. they say there is a £22 billion hole in spending. £5 billion in manifesto promises, like nhs queues. and to end austerity, to protect all department budgets, from inflation. at least £16 billion per year. and this doesn't include one—off costs of billions for compensation for inflected blood and post office horizon scandals. the important thing is, whatever they spend down here will have to be matched by tax rises here, not borrowing. the chancellor's strict new stability rule. many details to look out for. we have heard about the national living wage up nearly 7%. will rachel reeves find £6 billion to avoid a rise in fuel duty? as well as the winter fuel allowance, further cuts to welfare. how much? and perhaps a carrot for small businesses, rising

employees national insurance remains unchanged, this morning the chancellor admitted working people wouldnsequences. it will mean that businesses will have to absorb some of this through profits. it is likely to mean wage increases might be slightly less than they otherwise would have been. but overall, the office for budget responsibility forecast that household income will increase in this parliament. i was able to announce £22.6 billion of additional money for day—to—day spending in the health service... the prime minister and chancellor had travelled to the west midlands to meet nhs staff and to highlight their cash injection for the health service. kier starmer insisted higher taxes would provide better services. yes, difficult decisions, but we have taken difficult decisions now and i think everyone, many people, would agree health, education and housing and issues like that are the really important things for our country to be driving towards. the chancellor has said she does not want to do another budget like this again. the red box packed full of difficult decisions. some of the

the national insurance contributions employers pay may arise.t the impact on jobs and wages. the education secretary claimed today people's payslips will not be hit by tax rises. abs, not be hit by tax rises. working person is someone who derived their main income from going out to work, and coming out of this budget people in that category will not see higher taxes on their payslips. is that true? well, the government has ruled out raising rates of income tax, national insurance, vat and corporation tax. but millions may see more tax still being taken out of their pay if rachel reeves extends an existing policy of fiscal drag, freezing the threshold at which different rates of tax on income apply. a typical worker could actually pay over £100 more in tax by 2030. feel duty also could rise, again after being frozen forever in decade, something that will affect many people who work. rachel reeves has called their a budget for stripers, but fulfilling her pledges on public services and investment may mean most of us are likely to feel the pinch, a

while employees' national insurance remains unchanged, this morning, the chancellor admitted that workingthat it will have consequences. it will mean that businesses will have to absorb some of this, through profits. and it is likely to mean wage increases might be slightly less than they otherwise would have been. but overall, the office for budget responsibility forecast that household incomes will increase during this parliament. and i was able to announce £22.6 billion of additional money for day—to—day spending in the health service... the prime minister and chancellor had travelled to the west midlands to meet nhs staff and to highlight their cash injection for the health service. keir starmer insisted higher taxes would provide better services. so, yes, difficult decisions, but we've scrubbed down and taken the difficult decisions now. and i think everyone, many people, would agree health, education and housing and issues like that are the really important things for our country to be driving towards. the chancellor has said she does not want to do another budget like this again, w

the fact that she is going to raise national insurance for the employers, breaks that election manifestoat election manifesto-— employers, breaks that election manifesto. ., , ,, , manifesto. that is the issue she box herself them — manifesto. that is the issue she box herself them with _ manifesto. that is the issue she box herself them with those _ manifesto. that is the issue she box herself them with those tax - manifesto. that is the issue she box herself them with those tax rises . herself them with those tax rises and what they said in the manifesto... and what they said in the manifesto. . ._ and what they said in the manifesto... ,, , ., , manifesto... she is also said she won't raise... _ manifesto... she is also said she won't raise... she _ manifesto... she is also said she won't raise... she is _ manifesto... she is also said she won't raise... she is going - manifesto... she is also said she won't raise... she is going into i won't raise... she is going into this with most of the lever she can pull box off. the tory strategy in the campaign was to box them off on tax rises.

because our manifesto is all about vat, national insurance and income tax on people who main source ofoing out to work. main source of income is going out to work-— out to work. your manifesto said repeatedly, _ out to work. your manifesto said repeatedly, it - out to work. your manifesto said repeatedly, it says - out to work. your manifesto said repeatedly, it says in i said repeatedly, it says in black—and—white we won't increase national insurance, income tax and bnt. so i ask you again why are people who run businesses not working people? run businesses not working --eole? . , ., run businesses not working --eole? ., , ., , people? our manifesto was very clear about _ people? our manifesto was very clear about who _ people? our manifesto was very clear about who we _ people? our manifesto was very clear about who we were - people? our manifesto was very clear about who we were talking | clear about who we were talking about what we meant. you will appreciate that the chancellor was set all of the details out and is more than myjob is worth to come on your programme and an ahead of

, although there is a question mark over the employers' contribution to the national insurance elementent and whether that is something the chancellor is going to do, with strong hints she would change that. so therefore, she is left looking at smaller taxes to raise money. we know she needs billions of pounds extra a year to balance the books and avoid austerity, which is her stated aim with this budget. so this complex tax, which stirs up strong emotions, both by proponents of inheritance tax and opponents of it, is going to be looked at but we don't know which of the reliefs and allowances she may be tempted to tinker with. but there is the potential to raise quite a bit more money. at the moment, the treasury receives £7 billion a year through inheritance tax. that is a tiny amount considering the £800 billion of revenue the treasury gets every year. few states pay inheritance tax, so at a time when many assets are rising in value, in particular houses, of course, and there is a big generational transfer of wealth and away from the baby boomers to their children and grandchildren,

would raising employer national insurance break labour's manifesto pledge?e have been taking _ manifesto pledge? we have been taking a _ manifesto pledge? we have been taking a look. manifesto pledge? we have been taking a look-— taking a look. that's extraordinary. - taking a look. that's extraordinary. i've l taking a look. that's - extraordinary. i've reacted to it in— extraordinary. i've reacted to it in as — extraordinary. i've reacted to it in as many— extraordinary. i've reacted to it in as many ways _ extraordinary. i've reacted to it in as many ways as - extraordinary. i've reacted to it in as many ways as you - extraordinary. i've reacted toi it in as many ways as you can possibly— it in as many ways as you can possibly react _ it in as many ways as you can possibly react to _ it in as many ways as you can possibly react to it. _ it in as many ways as you can possibly react to it. it's - possibly react to it. it's wonderful. _ possibly react to it. it's wonderful.— possibly react to it. it's wonderful. �* , , ., ~ ., wonderful. and we speak to the

the national insurance institute has lowered israel's credit rating from a+ to a.ok is negative, the agency said in a statement. the reason for the escalation of the conflict between israel and the hezbollah movement. the national insurance institute believes that hostilities may continue until the twenty-fifth year. at the same time , the agency worsened the forecast for the country's economy. this year, they expect zero dynamics , next year, growth of 2%. against the backdrop of the situation in israel, chevron temporarily stopped two gas platforms - leviofan and tamar for security reasons. the fact is that iran's targets during the massive missile attack on israel were also gas platforms near the city of ashkilon. against this backdrop, oil prices rose by 5%. tel aviv sent a warning to tehran that it would respond to any shelling of its territory, including strikes on nuclear and oil facilities. and wheat on the chekag exchange is rising in price by 3%. the cost of grain for the first time since june exceeded $6 per bushel, which is slightly more than 27 kg. pri

business leaders in the uk have voiced concern after a government source told the bbc that the national insuranceto raise the rate by two percentage points, and lower the threshold it's impossible to say who'll be calling on election night with a problem. emma vardy, bbc news, houston, texas. business leaders in the uk have voiced concern after a government source told the bbc that the national insurance rate for employers would be increased in the budget, on wednesday. the source said the chancellor rachel reeves is set to raise the rate by two percentage points, and lower the threshold at which employers start paying the tax. one business lobby group said the change would amount to a "tax on jobs". the number of migrants who've crossed the english channel in boats so far this year has almost reached the total numberfor 2023, according to the home office. more than 29,000 people have now arrived in the uk since january. numbers are down from the equivalent period in 2022. the government says it's working to disrupt people—smuggling gangs. our south caucasus and central asia correspondent rayhan

the bbc understands that the chancellor, rachel reeves, is expected to raise national insurance contributions a boost in the nhs budget. the chancellor is also expected to lower the earnings threshold at which employers start making national insurance contributions. the former head of the american clothing chain abercrombie & fitch, mikejeffries, has pleaded not guilty to sex trafficking and prostitution charges in a new york court. it follows a bbc investigation intojeffries and his british partner, matthew smith — which uncovered multiple claims of abuse, in a highly organised operation that spanned several countries. jeffries is now under house arrest, after he was eleased on a $10 million bond. the far—right activist tommy robinson has been taken into custody ahead of a major demonstration by his supporters in london this weekend. kent police said that he had been charged with allegedly refusing to provide his phone's pin number to police officers — an offence under the terrorism act. separately, he is due in court on monday in connection with contempt of court allegations. you're live wi