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Reading: The national insurance reform proposed by the Tories “will cost more than the Liz Truss mini-budget.” – Labor.
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Baner Club > Blog > Politics > The national insurance reform proposed by the Tories “will cost more than the Liz Truss mini-budget.” – Labor.
Politics

The national insurance reform proposed by the Tories “will cost more than the Liz Truss mini-budget.” – Labor.

Labour is requesting that the Tories detail their financial strategy for their "reckless" proposal to do away with national insurance contributions.

Last updated: 2024/03/07 at 8:09 AM
Published March 7, 2024
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“We’ll be able to make progress towards that goal in the next parliament,” according to an email addressed to Tory members, although Chancellor Jeremy Hunt stated in his budget that his long-term goal was to “end this unfairness.”

The proposal was also revealed by Treasury Minister Bim Afolami, who told News’ Politics Hub with Sophy Ridge on Wednesday, “We want to eliminate that double tax on work.”

Labour questioned how the Tories intended to pay for the shift, claiming it would cost £46 billion annually, or £230 billion over the course of a five-year parliament.

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admin March 7, 2024 March 7, 2024
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Previous Article Celebrity Big Brother: Kate Middleton’s uncle Gary Goldsmith provides an update on her condition.
Next Article In Budget 2024, the Chancellor confirms that national insurance would be lowered by 2p while also raising the child benefit threshold from £50k.
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