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Spring Statement: Chancellor raises NI threshold to £12,570

It comes as the chancellor warned that the economy and public finances will likely worsen, ‘potentially significantly’

The chancellor has outlined a series of measures to help combat the rising cost of living in his latest spring statement, including increasing the national insurance threshold by £3,000. 

Speaking in parliament today (23 March), Rishi Sunak began his speech by warning it is yet unclear what the impact of Russia’s invasion of Ukraine will have on the UK’s economic recovery, adding that the sanctions taken are not “cost free”.

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