Tag Archives: NIC
The National Insurance Fund (pdf) intended to give claimants a sense of dignity and self-respect, in that National Insurance Contributions paid into the National Insurance Fund (Fund) would cover the cost of any benefits received. The National Insurance Contributions (NICs) made into the Fund were not to be means-tested. The intention was to give people an incentive to take extra steps, such as saving, thus providing themselves with more than the minimum benefit entitlement advocated in the Beveridge Social Insurance and Allied Services report (pdf). Read more of this post
Income tax, National Insurance contributions and VAT are easily the largest sources of revenue for the government, together accounting for almost two-thirds of total tax revenue. The following two charts show government expenditure distribution as a percentage and the corresponding expenditure amount in £billion for 2013, with any budget deficit being met by increased borrowing . Read more of this post
A.P. Herbert AI Albert Haddock Banks blog book books budget budget deficit C.S. Lewis censorship Charles Dickens China Civil Service constitution Crime CRT cryptocurrency CWG debt deficit democracy economics education ethics EU euro fiat money Film France freedom of expression gdp government history human-rights internet J M Keynes language Law Ludwig Von Mises Margaret Thatcher Matt morality music Musical national debt New Labour NHS opinion parody personal PFI poetry police Police & Crime Commissioners politics Quantitative Easing research school Screwtape Sir Ethelred Rutt K.C. social-media Social Media Social Welfare statistics T.E. Utley taxation terrorism Thatcher UK Unemployment USA Victor Hugo war war on terror
© Peter Barnett and Aasof’s Relections. Unauthorised use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Aasof and Aasof’s reflections with appropriate and specific direction to the original content.