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Adam Smith Inst - National insurance hike: a crushing betrayal and attack on younger and poorer

ASI’s Head of Government Affairs John Macdonald, responded to reports suggesting the Government will increase national insurance to fund a social care expansion

A national insurance hike would be a crushing betrayal of millions of Tory voters. It is an unfair attack on younger and poorer hard working Brits. Hiking taxes will prolong Covid economic suffering by destroying jobs and crushing businesses — which could ultimately mean less tax revenue for public services. 

Throwing money at social care will do little to solve the fundamental, structural issues. We need more private sector investment and a new model of insurance, not throwing fuel on a dumpster fire. 

The state has grown large enough over the last two years. If anything, a Conservative Government should be trying to abolish national insurance to allow people to keep more of their earnings and speed up the post-Covid recovery. 

Notes to editors:

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The Adam Smith Institute is a free market, neoliberal think tank based in London. It advocates classically liberal public policies to create a richer, freer world.

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