Tax and Fiscal Policy

April’s National Insurance hike must be scrapped

Matthew Lesh writes for The Telegraph

Matthew Lesh, IEA Head of Public Policy, has written an article for the Telegraph outlining the reasons why the National Insurance hike, currently scheduled for April, should be reversed.

“The national insurance rise, scheduled from April, will put 1.5 per cent on both employer and employee contributions. It will cost the average taxpayer around £270 per year – a serious sum in the context of skyrocketing energy prices and rising inflation on food and other essentials.” 

“economic growth is the most effective way to boost tax revenues to spend on services, lower taxes for citizens and reduce national debt to GDP…Embarrassingly for Boris Johnson, Labour is now making precisely this point. “The tax burden is the highest for 70 years,” said shadow chancellor Rachel Reeves on Friday.”

Read the full article here.