There’s another blow in the cost of living crisis. From today the National Insurance increase comes into effect. It means that workers, businesses and the self-employed will now pay an extra 1.25p in the pound.

The Evening Standard’s Consumer Business Editor, Jonathan Prynn, explains what this all means for Londoners who are already feeling the pinch.

Today we talk about:

The changes coming in today (01:17)
What it means for Londoners (03:10)
Should we be preparing for any other upcoming price increases, taxes or other costs? (07:10)

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National Insurance increase: What it means for Londoners