Chancellor George Osborne has today created an employment allowance that will give every employer in the country £2,000 off national insurance contributions.

The Government has announced plans for a consultation to merge national insurance contributions (NIC) into income tax.

A pensions expert has branded chancellor George Osborne’s announcement that the pensions Lifetime Allowance (LTA) will be cut from £1.25 million to £1 million “unfair, unnecessary and unwise”.

The chancellor, Alistair Darling, has confirmed income tax will increase for high earners from 2010 but will affect those with salaries higher than 150,000 who will see their income tax on their...

The Government will raise the income tax band for high earners from 40% to 45% by April 2011.