National Insurance Contributions (Reduction in Rates) (No.2) Bill — 13 Mar 2024 at 16:22

“little to promote growth and investment”.

“the UK stills lacks a clear industrial strategy to unlock long-term growth.”

“this House declines to give a Second Reading to the National Insurance Contributions (Reduction in Rates) (No. 2) Bill because, while acknowledging that the measures in the Bill reduce the National Insurance Contributions (NIC) burden on some employees, it considers the Government should prioritise investment in public services spending over yet more cuts in spending which would be the result of lowering tax revenue by reducing NIC rates.”

“Last year nearly 4 million people in the UK experienced destitution, including 1 million children. The number of people experiencing destitution has more than doubled in the last 5 years. A 2p cut in National Insurance will not help those who need it the most”.

“Key take away from #Budget24. Household incomes won’t recover to pre-pandemic levels until 2025. An entire Parliament where incomes will not have grown. That’s @RishiSunak’s record right there.”

“‘slash and crash’ budget that prioritised tax cuts now at the expense of crashing public services and investment in the future. This isn’t economically desirable, fiscally credible nor politically popular.”

“We have the sugar rush of tax cuts now that will be paid for by deep public spending cuts to come.”

“High earning households will be up to £1,500 a year better off after two rounds of National Insurance cuts and the wealthy will see sizeable tax cuts on profits from property sales and ISA investments. Meanwhile low earners gain little or nothing from the tax changes, and many of the poorest will actually see their incomes drop with the scrapping of cost of living payments.”

“As of Autumn statement 2022, the government expected NHS revenue spending to be £180.4bn in 2024-5 and capital to be £12.6bn. For all the talk of NHS investment by CX just now, the Spring Budget 2024 expects equivalent figures to be £179.6 and £12.6bn”.

“we urgently need to see an uplift to Universal Credit to protect those on low incomes who have been struggling for too long”.

“This was a Budget all but blind to buckling family budgets and broken public services and will leave a legacy of crumbling classrooms, cold homes, and empty tummies.”

“The Government has chosen to waste another opportunity to save lives today.”

“The reality is that these spending plans will be impossible to deliver”,

“this remains a parliament of record tax rises”,

Debate in Parliament |