Sky News published this video item, entitled “Cost of Living: ‘Full emergency budget needed now’ – Labour” – below is their description.
Labour says the government needs to act now and put forward a full emergency budget to help with the rising cost of living.
The Shadow Levelling Up minister, Alex Norris, told Sky News that more needed to be done to make life easier for people.
He said the National Insurance rise should be cancelled and business rates for small businesses cut.
#costofliving #emergencybudget #skynews #labour
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.
