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flag UK lawmakers approve NICs hike for employers, set to start April 2025, amid economic impact concerns.

flag The UK House of Commons has approved a bill to increase employers' National Insurance Contributions (NICs) starting April 6, 2025, aiming to raise £25.7 billion annually. flag However, the Office for Budget Responsibility predicts actual revenue will be around £16.1 billion by 2029/30, as businesses may reduce wages, hours, and profits. flag Critics argue the tax hike will lead to lower wages, fewer jobs, and slower economic growth. flag The bill will face further scrutiny.

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