Tory plan to cut national insurance would raise income tax, claims Rachel Reeves

Jeremy Hunt has said he aims to scrap workers’ national insurance contributions entirely, after reducing the main rate twice. But he has not laid out how he wouldthat the proposed abolition could lead to a rise in income tax – and a larger overall tax bills for pensioners, because they are already exempt from paying NI contributions.: “Jeremy Hunt may have revealed that he is going to pay for his reckless £46bn plan to abolish national insurance contributions by hiking taxes on pensioners.

Ms Reeves compared the policy to the failed “mini-Budget” of Liz Truss and Kwasi Kwarteng, saying: “I ask the Chancellor – where will the money come from? Will it come from cuts to the NHS, the state pension and public services? Will it come from increasing taxes, including for pensioners? Or will it come from increasing borrowing?”

İnsurance İnsurance Latest News, İnsurance İnsurance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Labour government would aim to cut taxes, Rachel Reeves says, after Conservatives slash National InsuranceA Labour government would aim to cut taxes and let 'working people keep more of their own money,' Rachel Reeves has told LBC.
Source: LBC - 🏆 17. / 74 Read more »