Martin Lewis gives his reaction to the budget: From hiking employers’ National Insurance to inheritance tax on pensions, the money saving expert’s verdict on Rachel Reeves’ 40billion tax raid [Video]

Martin Lewis has reacted to Chancellor Rachel Reeves‘s Autumn Budget by asking ‘who is going to pay for it?’

In a massive package that left Westminster stunned, the Chancellor shifted the country decisively towards a European high-tax, high spending model.

A huge £25billion National Insurance raid on firms was introduced, in which employers’ NI contributions will rise by 1.2 per cent to 15 per cent in April 2025. 

Mr Lewis, the founder of MoneySavingExpert.com, asked how businesses will pay for a £615 surge per employee. 

He wrote on social media: ‘The change of threshold so employers now start paying National Insurance at £5,000, not £9,100, is big.

My instant Budget reaction – everything you need to know at speed.

(Subtitled version coming soon, wanted to get it out quick)

Feel free to share pic.twitter.com/ewDye8xn2S

— Martin Lewis …