THE SNP has called for “full impact assessment” before any increases to employers’ National Insurance contributions are made on Budget day.

The demand comes as speculation grows that Labour’s first Budget since returning to power, due on October 30, will target businesses in a bid to bridge a £22 billion budget gap.

Just a 2 per cent rise in employers’ contributions could raise as much as £17bn.

But the Scottish Chambers of Commerce published a survey of 450 businesses showing 55 per cent are concerned about the taxation.

SNP economy spokesman Dave Doogan MP said: “The Labour Party must tread very carefully if it is planning to hike National Insurance taxes on thousands of small and medium-sized Scottish businesses.

“The Labour government must publish a full impact assessment of any National Insurance hike on small and medium-sized businesses, and the jobs and pay of millions of workers.

”You must be certain that jobs won’t be lost, and the wages of workers won’t be squeezed, as a result of Labour’s tax hikes.”

A Treasury spokesman said: “We do not comment on speculation around tax changes outside of fiscal events.”