Get the facts on the economy
Fact checks about the economy, covering levels of inequality, prices, taxation, employment, unemployment and housing across the UK nations and regions
Get the facts on… Inequality in the UK Debt and deficit Brexit
Latest the economy fact checks
Employees do not pay 12% in National Insurance
Since January, National Insurance payments have been 10% of an employee’s salary, though this will be 8% from April.
National Insurance contributions don’t determine how much is spent on health and welfare
Money raised through National Insurance is notionally separate from other tax revenue. But it doesn’t determine the amount of money which is spent on the NHS or social security.
Government borrowing is not forecast to increase year on year
Shadow chancellor Rachel Reeves claimed that government borrowing “goes up in every year” of the OBR’s latest forecast published this week.