Jeremy Hunt has admitted that the government’s aim to end national insurance will not “happen any time soon.”
The Chancellor said on Thursday that he wants to end the “unfairness” of national insurance and by scrapping the contributions will be a big thing to do.
Hunt was asked over the fiscal drag meaning people will be pulled into a higher tax band, the Chancellor said he is “not pretending” that he has taken all the “taxes down.”
Hunt told Times Radio, “I’m not pretending that I brought all those taxes down in one go. We can’t afford to do that.
“It wouldn’t be responsible to do that. But do I want to carry on bringing them down, as I did yesterday, as I did in the autumn statement? Yes, I do.”
Hunt was then asked if he is planning another fiscal event before the upcoming general election.
Hunt said, “No, but if there’s an autumn election, which is the working assumption, then theoretically it would be possible to have one.”
The Tory Government wants to eliminate what they call a “double tax on work” in the form of national insurance and income tax.
“That’s a huge job,” Hunt said.
“I don’t think it’s realistic to say that’s going to happen any time soon.”
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