Sky News published this video item, entitled “Cost of living crisis: ‘Poorest being hardest hit'” – below is their description.
Helen Barnard, director of the Joseph Rowntree Foundation, discusses the cost of living crisis with Trevor Phillips.
She reveals some of the hardships many people are having to endure as incomes are squeezed.
Last week it was revealed that the wife of Chancellor Rishi Sunak avoided paying millions of pounds in taxes in the UK while her husband was raising National Insurance for millions of people.
Sky News YouTube Channel
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In This Story: National Insurance
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.
