National Insurance

Coronavirus Job Retention Scheme launched

Highlights from first Budget of this Parliament

Race to Downing Street turns to income tax and social care

The Conservatives are said to be planning to merge national insurance into income tax in a major shake-up of the current tax system.

A plan to merge National Insurance (NI) with income tax would increase wages, create jobs and help reduce costs, business leaders have said.

The Government is understood to be considering plans to offload its stakes in Lloyds Banking Group and Royal Bank of Scotland just weeks after the general election.

Everyone earning over £20,000 a year faces a tax rise from 2011.