Angela Eagle DBE
@angelaeagle
Labour MP for Wallasey.
ID:124270074
18-03-2010 21:02:37
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Today sees a £10 billion National Insurance cut coming into effect.
When considered alongside the frozen tax thresholds this April, people earning between £12,570 and £26,000 will gain less – or even nothing – from the rate cut.
RF economist Adam Corlett responds ⤵️
Great start to The Labour Party’s campaign in the Kingswood by-election today.
Rishi Sunak is too weak to lead his party let alone run the country.
Even Tory MPs think the Tories have failed. There is no point in five more months of this Government let alone five more years.
For context, National Insurance is projected by the Office for Budget Responsibility to bring in around £176bn in 2024-25 - around a sixth of all tax revenues, money which funds around £1 in 7 of all public spending