Asked by: Gill Furniss (Labour - Sheffield, Brightside and Hillsborough)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on funding for state pensions.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.
Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.
Asked by: Gill Furniss (Labour - Sheffield, Brightside and Hillsborough)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on pensioners' finances.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.
Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.
Asked by: Gill Furniss (Labour - Sheffield, Brightside and Hillsborough)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on determining eligibility criteria for the state pension.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.
Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.