Many are sceptical about the idea of increasing National Insurance, even Phillip Hammond who was once the nation’s treasurer. Between 2016 and 2019, Mr Hammond was Chancellor of the then-prime minister Theresa May. His suggestion that the government might reduce austerity measures was well-known.
Hammond joined a group of high-ranking Conservative politicians to oppose the National Insurance tax increase. Former prime minister John Major and Iain Duncan Smith are among them.
According to Times Radio’s Mr Hammond, “An increase of National Insurance Contributions is asking young workers, who may never inherit the property,” to subvention older persons who have acquired wealth over their lives and own a property. This cannot be right.
“I believe that if the government were to increase national insurance contributions and break a pledge to cover the care of elderly people who have homes, it would cause a significant backlash. It would do significant harm to the government, the Conservative Party.
Publiated at Sun, 05/09/2021 15:43.44 +0000