Chancellor does a volte-face on the NIC of the self employed following the Budget bungle

What a pity Chancellor Hammond did not consult more widely on the National Insurance Contribution (NIC) ‘grab’ in the recent Budget. The truth is that the employed, pay 3% more in NIC than the self employed, but receive substantially more in benefits i.e. statutory sick pay, maternity/paternity pay, pension contributions, holiday pay, subsidised heath care, crèches and ensured employment. Surely, for all these benefits they should pay a higher tax charge?

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President Trump will be good for Britain

Trump’s presidency will undoubtedly set the American economy alight. His predecessor has presided over subdued growth that has been attenuated by suffocating regulation, high corporate taxation and ‘big government’ which is why growth in the USA is presently 2% and not more, despite an unprecedented amount of Quantitative Easing. Continue reading

Breaking News: Stamp Duty shortfall of £9.5bn will be 50% of the Budget deficit in 2020

Isn’t it ironic, that the main plank of the former Chancellor Osborne’s fiscal discipline was to produce a Budget surplus in 2020, which has now been revised by Mr. Hammond, to approximately £20bn and 50% of this shortfall, will be due to lower Stamp Duty Receipts; which was Osborne’s folly.

 

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