U-turn over Budget plan to increase National Insurance

Image copyright HoC

Plans to increase National Insurance levels for self-employed people - announced in the Budget last week - have been dropped.

Chancellor Philip Hammond has said the government will not proceed with the increases which were criticised for breaking a 2015 manifesto pledge.

In a letter to Tory MPs, he said: "There will be no increases in... rates in this Parliament."

Mr Hammond will explain the U-turn in a Commons statement later.

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