NI rise to be reversed in November A 1.25% rise in National Insurance will be reversed from 6 November, and a planned levy to fund health and social care will be scrapped, Chancellor Kwasi Kwarteng has announced. The NI rise was introduced in April under ex-Chancellor Rishi Sunak, but during the Tory leadership race Liz Truss pledged to change it. The funding for health and social care will now come from general taxation. The Treasury said the change would save nearly 28m people an average of £330 per year. It added that most employees will get the tax cut in their November pay packets, with some getting it in December or January "depending on the complexity of their employer's payroll software". About 920,000 firms will get a tax reduction of nearly £10,000.