Martin Lewis Quizzes MP On The Rise In National Insurance & The Cost Of Living Crisis | GMB

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Good Morning Britain published this video item, entitled “Martin Lewis Quizzes MP On The Rise In National Insurance & The Cost Of Living Crisis | GMB” – below is their description.

The chancellor has pledged to help “where we can make a difference”, as he faces pressure to help households with soaring living costs.

Ahead of next week’s Spring Statement, Rishi Sunak told the BBC he would “stand by” people, but warned sanctions against Russia were not “cost-free”.

He is facing calls from some Tory MPs to cut fuel duty to help ease rising costs at the pumps.

His Labour counterpart Rachel Reeves said her party would back such a move.

Broadcast on 21/03/22

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National Insurance (NI) is a fundamental component of the welfare state in the United Kingdom. It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their families.

Introduced by the National Insurance Act 1911 and expanded by in 1948, the system has been subjected to numerous amendments in succeeding years. Initially, it was a contributory form of insurance against illness and unemployment, as well as eventually provided retirement pensions and other benefits.

Weekly income and some lump-sum benefits are provided for participants upon death, retirement, unemployment, maternity and disability. In order to obtain the benefits which are related to the contributions, a National Insurance number is necessary.

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Rish Sunak is a British Conservative Party MP, who was originally elected as a Member of Parliament in the Richmond (Yorks) constituency in 2015.

His father-in-law is billionaire founder of Indian IT giant, Infosys, NR Narayana Murthy.

Sunak experienced a meteoric rise, first to be selected for the “safest” Conservative seat in the UK, he would later become the UK Chancellor of the Exchequer in under five years.

Brief Biography Here.

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Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.

The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.

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