GBNews published this video item, entitled “Grant Shapps insists the government has a ‘collective position’ on National Insurance rise” – below is their description.
‘We have a collective position’
Grant Shapps insists the government are united on National Insurance amid reports of Jacob Rees-Mogg disagreeing with Rishi Sunak on the tax rise.
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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.