_national-insurance-what-is-it-what-does-it-fund-and-what-happens-if-its-scrapped.jpg "National Insurance: What is it, what does it fund and what happens if it’s scrapped? from local Video Screenshot Preview")
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✓ Published: 07-Mar-2024
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✓ Published: 07-Mar-2024
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In his Spring budget, Chancellor Jeremy Hunt confirmed a 2p cut to workers’ National Insurance. This indicates the government’s eventual ambition to scrap the tax entirely.<br/>Well, National Insurance acts as a form of social security, and is defined by the Oxford Dictionary as being the system of compulsory payments to provide state assistance to people who are unemployed, poorly or retired.
In his Spring budget, Chancellor Jeremy Hunt confirmed a 2p cut to workers’ National Insurance. This indicates the government’s eventual ambition to scrap the tax entirely.<br/>Well, National Insurance acts as a form of social security, and is defined by the Oxford Dictionary as being the system of compulsory payments to provide state assistance to people who are unemployed, poorly or retired.
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