Chancellor Jeremy Hunt has expressed a desire to abolish National Insurance, citing it as an unfair double taxation on work, in contrast to other forms of income which are only taxed once. Despite this ambition, Hunt has clarified that the abolition of National Insurance is not imminent, stating it "won't happen any time soon" and acknowledging the complexity and significant effort required for such a policy change. This stance has been echoed by Treasury Minister Gareth Davies, who suggested that achieving this goal could span "several parliaments." Critics have highlighted the financial implications of such a move, with estimates suggesting it could cost £46 billion, drawing comparisons to the economic impact of the Truss/Kwarteng mini-budget. The Office for Budget Responsibility (OBR) predicts that cutting National Insurance by a third could result in 200,000 more people in work.
Treasury minister admits it could take 15 YEARS for the Tories to get rid of national insurance after Jeremy Hunt floated the idea in the Budget https://t.co/Zx1rL2bCwz https://t.co/92rayc0J8R
Tory Shambles As Treasury Minister Admits Plan To Scrap National Insurance Could Take Decades https://t.co/vzrGUu6X37
Tory ambitions to abolish National Insurance could take "several parliaments'' to achieve, Treasury Minister Gareth Johnson tells @SkyNews 🤔
NEW - Treasury minister appears to kick the abolition of National Insurance firmly into the very long grass. Gareth Davies tells @AnnaJonesSky it may take "several parliaments" to achieve.
Treasury minister says the Tories' aim of scrapping national insurance "may take several parliaments". So pencil it in for the 12th of Never.
🔴 National Insurance abolition ‘will not happen any time soon’, admits Jeremy Hunt https://t.co/dn5ryh6J6D
‘It’s not nickel and dime-ing to cut national insurance payments by one third.’ Chancellor Jeremy Hunt responds to criticism on his newly announced Spring Budget, and discusses solving the UK’s soaring tax burden. 🔒 Become a GB News Member: https://t.co/mNsRsGC8ef https://t.co/hJbo3Ig8i7
Jeremy Hunt has outlined his desire to abolish "unfair" national insurance tax - but admitted it "won't happen any time soon". Read more 🔗 https://t.co/BHFbJGCSNd
Jeremy Hunt says he wants to abolish National Insurance but that it’s a “difficult, long term ambition”. Presumably a government would need to be in power for at least 14 years to achieve such lofty goals https://t.co/VuAUC8FQHd
National Insurance will not be scrapped 'any time soon', Jeremy Hunt confirms after Budget tax cuts https://t.co/G7kTCI6MXj #tax #JeremyHunt #nationalinsurance #Budget2024
Scrapping National Insurance will not happen ‘any time soon’, Jeremy Hunt confirms https://t.co/G7kTCI6MXj #tax #JeremyHunt #nationalinsurance #Budget2024
Despite suggesting that he wanted to abolish national insurance altogether, Jeremy Hunt told @TimesRadio that it was a “huge job” that would not happen soon ⬇️ https://t.co/kFQMg9Ub9X
'We think it's unfair that income you get from work is taxed twice...but income you get from other sources is only taxed once.' Cutting National Insurance by a third could lead to 200,000 more people in work according to the OBR, Chancellor @Jeremy_Hunt tells @NickFerrariLBC. https://t.co/Lq3Liyqko5
🔴 Jeremy Hunt said abolishing National Insurance (NI) entirely will be a “huge job” and it is not going to happen “any time soon” after signalling his intention to scrap the tax at the Budget Follow our politics liveblog for updates throughout the day👇 https://t.co/qQYBWl0GAF https://t.co/ZvYkUfkkC1
Jeremy Hunt on @SkyNews says he wants to abolish National Insurance, an unfunded commitment which would cost £46 billion. That’s more than the cost of the Truss/Kwarteng unfunded mini budget which crashed the economy. #Budget24 #GeneralElectionNow
“I do want to end the unfairness of a system where the income you get from work is taxed twice." The chancellor @Jeremy_Hunt tells #TimesRadio National Insurance won’t be abolished “any time soon” but he wants to “go further" with cuts. @StigAbell https://t.co/h8VNE1MN2d
BREAKING: Jeremy Hunt admits his plan to end national insurance 'won't happen any time soon' Read more 🔗 https://t.co/uCqC3x6rC0
"National insurance is a tax on work. I think it's unfair that we tax work twice when other forms of income are only taxed once." Chancellor @Jeremy_Hunt tells @KayBurley why he cut national insurance instead of income tax. 👇 https://t.co/loBvOanZEI 📺 Sky 501 and YouTube https://t.co/VxUz9qBG7X
"National insurance is a tax on work. I think it's unfair that we tax work twice when other forms of income are only taxed once." Chancellor, @Jeremy_Hunt tells @KayBurley why he cut national insurance instead of income tax. 👇 https://t.co/loBvOanZEI 📺 Sky 501 and YouTube https://t.co/ISjl2HVx5C
Chancellor Jeremy Hunt tells @KayBurley the abolition of National Insurance is “not going to happen any time soon”
Jeremy Hunt hinted at it in the Budget, but this is the clearest statement on eliminating national insurance that I’ve heard. Feels like it could be a key part of manifesto https://t.co/0oe2wKHGub
Jeremy Hunt seems to suggest that his long-term plan is to abolish National Insurance altogether — a Tory manifesto pledge?
Jeremy Hunt's comments about the unfairness of double taxation for working people suggested he wants to abolish National Insurance entirely but he doesn't say this - just a commitment to continue cutting it #Budget2024