Concern from Oxford school over possible National Insurance changes in Budget

An Oxfordshire school say they're concerned that a tax increase to employer's National Insurance could reverse teachers pay rise.

It's as the school says the funded pay-rise finally gave them some financial respite for the first time in half a decade.

We'll hear what is in the Chancellor Rachel Reeves budget next week (Wednesday 30th October).

We've been speaking to headteacher of Cheney School, Rob Pavey who says when Labour came into power the agreement for the pay rise which was funded fully, made a huge difference:

"It means that schools like ours aren't forecasting a budget deficit and we are actually ok, and we aren't going to be going bust in the next two or three years anymore."

He's worried it will undo a lot of the work done by the pay rise, and hopes if the employer National Insurance increase is included in the Budget next week, that it's compensated for.

"That eats way all the limited head room we've got. If we were a business and we had those sorts of profit margins we'd be in trouble, but we're not. We don't have much room for manoeuvre."

Meanwhile The Prime Minister's hinted that people, whose earnings come from profit on what they own, could be taxed more.

Sir Keir Starmer promised before the election that working people won't see their taxes rise under him.

The Conservatives have criticised the chancellor's decision to change the debt rules in order to free up billions of pounds for infrastructure spending.

Rachel Reeves says she'll make a technical change to the way debt is measured to "bring jobs and growth to Britain".

But her first budget next week is still expected to see some cuts to public services and tax rises.

We'll find out exactly what the new Labour government have planned Wednesday 30th October.

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