UK Chancellor Rachel Reeves is poised to raise employers' national insurance contributions by up to two percentage points in the upcoming budget on October 30, aiming to generate approximately £20 billion to fund the NHS and stabilize public finances. Additionally, she plans to lower the threshold for when employers begin contributing to national insurance, which will significantly impact private sector employers, while public sector entities will be reimbursed by the Treasury. This tax increase represents the largest revenue-raising measure in Labour's first budget in 15 years. Critics, including former Chancellor Jeremy Hunt, have cautioned that the increased borrowing and taxation could lead to higher interest rates, adversely affecting families with mortgages. The current rate of 13.8% could rise to as much as 15.8%, increasing costs for businesses. These measures come amidst pressures on Labour to clarify its taxation stance and fill a reported £22 billion gap in the public finances.