Contractor National Insurance Increase Certain to Be Reinstated After Election Contractor National Insurance Increase Certain to Be Reinstated After Election
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  1. #1

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    Default Contractor National Insurance Increase Certain to Be Reinstated After Election

    Chancellor Hammond tried to raise National Insurance in his Spring Budget. When it was pointed out to Theresa May and him that there was a promise in the last Manifesto not to raise National Insurance they quickly dropped it.

    So, now the Chancellor has a £2bn hole in his budget which he said he will rectify in the Autumn.

    It seems that this promise is not going to be in the Manifesto this time around. So, the Chancellor can now simply fill the hole in his budget by re-instating the NI rise in his Autumn Buget.

    Problem solved!

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    Quote Originally Posted by Craic View Post
    Chancellor Hammond tried to raise National Insurance in his Spring Budget. When it was pointed out to Theresa May and him that there was a promise in the last Manifesto not to raise National Insurance they quickly dropped it.

    So, now the Chancellor has a £2bn hole in his budget which he said he will rectify in the Autumn.

    It seems that this promise is not going to be in the Manifesto this time around. So, the Chancellor can now simply fill the hole in his budget by re-instating the NI rise in his Autumn Buget.

    Problem solved!
    Bit extreme calling a GE just for that! I think more pressing concerns were that fact that she was about to lose her majority with 30 MPs being done for Election fraud...

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    Quote Originally Posted by Craic View Post
    So, now the Chancellor has a £2bn hole in his budget which he said he will rectify in the Autumn.

    It seems that this promise is not going to be in the Manifesto this time around. So, the Chancellor can now simply fill the hole in his budget by re-instating the NI rise in his Autumn Buget.
    Don't be surprised to see a 1 or 2p rise in IT. And a 5% hike in VAT as well.
    As for pension perks, they'll be on the chop-list.

    2 choices at the GE. Tax and spend, vs Tax and not spend.

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    There going to be massive tax increases in autumn, if they bother waiting for that long.

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    I think you mean "certain to be reinstated if the Tories win and have a large enough majority to do any old tulip they like", which is not actually guaranteed

  6. #6

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    I reckon there is a major downturn coming with inflation rising and pay and rate increases staying low. We never really got over the previous downturn and the next one may be on the way.

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