Employers' National Insurance Hike To Raise £20Bn

[naomi24]

//The chancellor is set to increase the National Insurance rate for employers to boost funding for public services including the NHS.

Rachel Reeves is also expected to use Wednesday's Budget to lower the threshold for when employers start paying the tax - with the two measures combined to raise about £20bn.//

 

https://www.bbc.co.uk/news/articles/c9wrkngvyx4o

 

 

Cue job losses and a reluctance to invest.  Clever!

[THECORBYLOON]

KHANDRO, "Not one member of this labour cabinet has ever had any business experience let alone run a business." 

Should the whole cabinet consist only of MPs with experience of working in the areas for which they would be responsible as a Secretary of State?

 

[10ClarionSt]

With regard to the OP, it reminds me of the Harold Wilson brainwave in the mid-60's when he introduced something called Selective Employment Tax (SET).

This was going to raise billions, and was a tax based on the number of employees at each company, so, the more employees, the more tax revenue. Simples!

Cue mass redundancies and increased unemployment. I think we've been here before. And it aint looking good.

[nicebloke1]

No one likes increased costs of any kind, but sitting back and doing nothing is not an option. In any case for the last few years some people have been working for peanuts zero contracts and all that jazz, plus government have been paying out millions in topping up poor wages with benefits for this and that, it can't continue that way. 

[Ryzen]

Are you saying, the many workers made redundant from the latest fag packet scheme wont qualify for benefits then?

[nicebloke1]

If you care to read my post, I was on about people in poor paid JOBS getting some benefits, not someone who don't have a job. Is not tax credits one of them, please correct me if i'm wrong?

[10ClarionSt]

I'm no expert, nicebloke1, but I think anyone on tax credits is being moved onto UC. Eventaully.

[nicebloke1]

Sorry, what is UC?

[nicebloke1]

Ok now got it universal credit. Yes 

[theshedman]

Where does the money come from to pay workers in the Public sector?    Also this clip from yesterday's Daily Mail "Rachel Reeves admitted that 'working people' will face tax rises after the Budget, while firms will be hit by a national insurance hike of up to two per cent." doesn't this break Labour's pledge not to increase tax for working people?

[newmodarmy]

Its also hard to see how a jobs tax is consistent with being focused on growth. Unless all along they meant growth in unemployment or growth in prices as employers pass on the extra cost.

.

[davebro3]

//Reeves: My budget will match the greatest economic moments in Labour's history.//

Oh dear!🙄

[Old_Geezer]

One doesn't complain about raising money per se, but it is legitimate to complain about how it is raised. Raising that which was promised not to be raised is bad. Targeting the vulnerable is bad. Wasting money by scrapping projects already spent on, and encouraging things that cost us when they should be stamping them out are both bad. And the other side of the coin is spending where it seems unnecessary also causes disagreement with the public.

 

When a government claims a black hole in the finances and then looks to justify it by making things worse (not to mention all the non-financial issues they are involved in which further increases public dissatisfaction) it means AB members are bound to post about it.

[nicebloke1]

Wasting money by scrapping projects OG? You mean like HS2 that Sunak scrapped, well KS now as to fill that black hole also.

[davebro3]

HS2 was an obvious money pit from day 1 - it was started by Labour!

[ynnafymmi]

Not sure if my local council are able to pay this new NI charge,they are already millions in debt.This will drag more local councils into bankruptcies.

[nicebloke1]

9.51 proposed by labour. In anycase this is about scrapping HS2 the latter by the cons.

[jourdain2]

My sister runs a small local MOT garage.  She takes on an apprentice every couple of years to train up - some have stayed and become valued workforce as the older chaps retired.  She now says that she will not be taking-on the apprentice she was considering employing from January next.  

Is Reeves totally insane/incompetent? Or does she just not relate maths and statistics to real life? 

[ynnafymmi]

Welcome to the new UK,jourdain2,the Tories hated us Brits,this new Labour government hate us Brits.Is it me?Why do our governments hate us Brits so much?

[nicebloke1]

Reading some of these posts it looks to me the other way round 14.36. :0)

[ynnafymmi]

...and with good bloody reason....