Launching the Lib Dem local election campaign, leader Sir Ed Davey says London will bear a bigger National Insurance burden than any other region in the UK, with 20% of the costs falling on Londoners' shoulders.
Londoners are facing a £2.2bn National Insurance hike, Liberal Democrat analysis shows.
The research shows small businesses, including cafes and shops, will pay an extra £1.3bn and workers an average of £243 extra annually.Slashing the top rate from 20% to 17.5% for one year would save families an average of about £600 each, he said, which would boost small businesses by encouraging spending and keeping prices down.
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