National Insurance

National Insurance:Total Budget £250 Billion

Revised Budget £151 Billion changed by £-99 Billion: 60.4% Reduction

National Insurance Employees National Insurance

Policy:

Remove Employee National Insurance Contributions all together.

Annual Revenue Reduction of £-75 Billion

Policy:

Cut the rate of Employer's National Insurance from 15% to 10% and adjust the salary bands

The starting point for paying would be raised from £5,000 to £12,000, to match Income Tax personal allowance.

Cap would be introduced at a £50,000 salary, replacing the current unlimited system.

Annual Revenue Reduction of £-34.5 Billion

Policy:

Scrap the current Employers National Insurance Relief system and create a new "Start-up Jobs Grant".

Annual Revenue Increase of £10.5 Billion

Policy:

Fully merge the taxation of self-employed profits into the new, simplified Corporation Tax system.