EXTRA spending on health will fuel higher prices for everyone, award-winning tax experts have predicted. Partners at Creaseys, accountants based in Tunbridge Wells, expressed concern about the consequences of the one per cent rise in National Insurance contributions for employers.

"It could mean a price hike in most cases," said Peter Cropper, senior tax consultant. "Employees will also have to pay more and they may be pushing for higher salaries. It's not very good news for the small and medium business."

Richard Holme, tax partner, said the NI hike would cause all businesses to suffer, and warned that it could cause a slowdown in the economy. Last year, Creasey's won an award for the top tax team in the UK.