Chancellor Hunt Announces National Insurance Will Not Be Scrapped in Next Parliament

Despite a long-term goal to eliminate the tax, economic conditions and the need for growth will dictate the timeline, says Hunt.

Jeremy Hunt, the Chancellor, has stated that the ambition to abolish National Insurance will not be realized within the next parliamentary session, emphasizing it as a long-term goal.
Labour criticizes the Conservative's plan as a £46 billion 'unfunded' commitment, raising concerns over the impact on state pensions and the NHS.
Hunt defends the plan, arguing that National Insurance cuts are crucial for economic growth and will not be funded by borrowing or cuts to public services.
The Chancellor has already implemented cuts to National Insurance, aiming to make work more attractive and bring more people into the labor market.
Significant pressures for increased spending, especially on defense, are acknowledged by Hunt, who also highlights the challenges in reducing debt as a share of GDP.