TaxCorporate TaxTories and Labour trading election blows on tax

Tories and Labour trading election blows on tax

NI rises will be an "economy, jobs and recovery killer "acording to David Cameron, as Labour holds firm on deficit-reducing measures

The UK’s tax regime is becoming a key battleground for election hopefuls as
Labour remains committed to national insurance contributions rises, a move which
has been shot down by Conservatives.

Business groups have protested at the changes set to come into force next
April which will see a 1 percentage point rise for both workers and staff.

The Tories have seized on this
and
used it as a political bludgeon against the
Labour party.

Speaking at the Warburton breadmaking headquarters in Bolton, Tory Leader
David Cameron said:

“If we put up National Insurance contributions on every job, employers will
have to pay more for them. That’s bound to be a tax on jobs.”

“National Insurance hits the cost of every job and also hits everyone in the
pocket. We say that’s not the right answer.”

Putting up the cost of employment would lead to fewer jobs being created and
would also lead to jobs being lost.

“It would be an economy killer, a recovery killer, a jobs killer,” Cameron
added.

Earlier this week, the CBI urged whoever wins the battle for No. 10 to
establish a more competitive regime for business taxes.

However Labour has insisted the NI rise is a key part of efforts to make a
dent in the £167bn public spending deficit.

Further reading:

How the
papers are showing their election colours

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