The shadow chancellor stated abolishing Nationwide Insurance coverage was a “tax bombshell aimed toward British pensioners”.
Rachel Reeves recalled a 40-year previous warning from the late former Conservative chancellor Nigel Lawson, later Lord Lawson, to not abolish the tax because the coverage had “little sensible advantage” and would “create many losers”.
Talking in a speech within the Metropolis of London, Ms Reeves stated abolishing NI would imply revenue tax going up by eight share factors.
Rachel Reeves: Authorities gaslighting folks over state of economic system
