Extracts from Opposition day debate (Commons) on National Insurance Contributions Increase - Mar 8

Gerald Jones (Merthyr Tydfil and Rhymney) (Lab):...Analysis from the New Economics Foundation shows that 2.5 million working households will be hit by the Tory double whammy of cuts to universal credit and the increase in national insurance, losing out on as much as £1,170 next year. That is all at a time when we know that the price of food, the price of petrol and the cost of rent are going up and families are genuinely fearful about making ends meet...

Rebecca Long Bailey (Salford and Eccles) (Lab):...We are long overdue a frank discussion and examination of fairness in the tax and social security system. We must look at taxing income from wealth—such as interest, rent and capital gains—on a basis comparable with that for earnings from work. As the New Economics Foundation has suggested, the Government should examine the idea of a living income, which would link social security payments to a decent minimum income guarantee...

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