Changes to the NI cap in order to better fund, for things like healthcare

In line with the current NI Cap, the automatic amount of NI that is deducted from salary is capped and therefore only the first £X of your salary is subject to NI deductions.

Change the NI cap so that the most wealthy who earn a higher amount of income pay NI contributions on their additional income above the current cap.

This should be phased in over a period of time so that it doesn't majorly affect people's income, but also in way that imminently begins to provides a greater level of additional funding for our services.

In order to avoid the less wealthy to feeling this sooner and harder than the wealthy, the proposed rise in the NI Cap could start from the top earners and work down, until gradually everybody pays NI contributions on all relevant earnings up to the new cap.

Why the contribution is important

This is important as it is a sustainable and fair way of providing future and ongoing funding.

 

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by PhilIOMGov on August 06, 2018 at 03:13PM

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