ChatterBank1 min ago
Employers' National Insurance Hike To Raise £20Bn
//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:/
Cue job losses and a reluctance to invest. Clever!
Answers
Best Answer
No best answer has yet been selected by naomi24. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
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.
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.
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?
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.
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?
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.