The recent Spring Budget has sparked a significant debate in the UK, with the Labour Party criticizing the government's plans to abolish the national insurance payroll tax, a move that could cost £46 billion. The opposition argues that this unfunded ambition, reminiscent of the Liz Truss era, lacks funding and could lead to a squeeze on public finances. Chancellor Rishi Sunak has hinted that to finance this tax cut, there might be a reduction in benefits, a decision that could affect Labour's ability to pursue its manifesto plans post-election and could cost £45 billion. This strategy has been met with skepticism, with concerns about its impact on welfare and the broader implications for voters and the economy.
Scrapping national insurance is set to be a key part of the Tory election offer to voters as Rishi Sunak suggested a squeeze on benefits could help pay for the plan https://t.co/QEA2xK4Dna
Sunak hints he could cut benefits to fund plan to scrap National Insurance | ITV News https://t.co/mEdHqqa4Wn
Rishi Sunak prepares fresh squeeze on benefits to help fund his bid to scrap national insurance after the general election - as Labour warn move would cost £46billion https://t.co/sBiakdLLhN https://t.co/SHwXkJuulQ
Rishi Sunak suggested he'll squeeze benefits to pay for more tax cuts, saying the current system isn't working and too many people have been signed off. @Henryriley1 asks: is he right? https://t.co/cl0Hvc9Ud4
🚨 NEW: Rishi Sunak will reduce benefits to fund his ambition to scrap national insurance contributions if he wins the next election [@thetimes]
Rishi Sunak vows to squeeze benefits to in bid to scrap national insurance https://t.co/MOJmIIaGKw
So Rishi Sunak now seems to think that cutting benefits will find him the £45bn to ditch NI completely.
Rishi Sunak will squeeze benefits to help scrap national insurance as part of his election offer to voters https://t.co/SZUoZzZZbW
Rishi Sunak hints at welfare squeeze to fund plan to scrap national insurance https://t.co/Wik5jZfWsF
The UK's opposition Labour Party took aim at the government’s `unfunded' ambition to abolish the national insurance payroll tax, saying it had echoes of the short, disastrous Liz Truss era https://t.co/Tb3oG4IEWH
The chancellor’s vague budget promise to scrap the tax risks overshadowing the things voters really care about, and has opened the party to attacks from Labour ⬇️ https://t.co/kfWAQgAyrk
💳 Tight public finances after the next election could leave any potential Labour government forced to make significant decisions on taxation and borrowing to pursue its manifesto plans https://t.co/wnTD3DzCEX
Spring Budget Leaves Labour Facing Squeeze On Manifesto Plans https://t.co/wnTD3DzCEX