Insight Investment has published research that shows that the rise in National Insurance Contributions will raise an extra £3bn for the Government but likewise reduce the amount people save in their own nest eggs.
Insight say that the average UK salary of £25,000 has had yearly take home pay reduced by £204. The Savings Gap, as it is known, is increasing with less and less being saved. This stealth tax, which we have not seen all the impact of yet does nothing for the need for us all to save more.
Our Budget Summary with stealth taxes, our views and the "devil being in the detail"