The problem is that National Insurance has become, over the years, just another form of income tax. Adding complication to the system, ensuring that very few understand what they’re paying and why, which is all the type of smoke and mirrors stuff governments love. If we went back to the original concept of National Insurance as actual insurance, it would all make much more sense. And it was actually Winston Churchill’s idea. He ‘coined the phrase ‘from the Cradle to the Grave’ in 1943 to describe the need for some form of social insurance to give security to every class of citizen in the state’. Who knew?
“Inheritance tax on course for record year of receipts (again) amid calls to scrap it”
Will he/won’t he abolish Inheritance Tax? The Pre-Budget rumour is still out there, perhaps ‘running it up the flagpole to see if it catches the wind’, or perhaps to distract from other rabbits which may be pulled from Jeremy H’s figurative hat.