A whopping 22.7 million Britons are expected to be drawing benefits – including pensions – by 2040, according to latest research by the Adam Smith Institute. With just 34 million workers left to foot the bill…
By 2036, the Treasury will spend more on welfare (including the state pension) than it will be receiving in National Insurance tax receipts, despite Reeves’ NICs hikes, meaning the State Pension could be financially unsustainable by as early as 2036. From that point, the government will rely on the National Insurance Investment Account Fund – the pot which holds NICs to pay for social security benefits and invests surplus funding back into the economy. From 2040 onwards, the fund will begin to deplete…
Meanwhile, Downing Street is rolling the pitch for a wealth tax as 16,500 millionaires are set to leave the UK this year. Can the UK afford four more years of this?
Burnham confirms he spoke to Trump last night about drilling in the North Sea:
“I indicated in the phone call that we had a week last Monday that I would take a pragmatic approach when it comes to the North Sea, and that is my intention as we go forward from here. There is a resource there. When people are struggling, we can’t ignore that. Hence, me indicating that to the president…”