Retailers and the self-employed hit back at Budget announcements

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Helen Dickinson, chief executive of the British Retail Consortium, tells Ian King Live the measures introduced by the Chancellor in the Budget to help businesses cope with an increase to business rates are a plaster on a system that is fundamentally broken and not fit for purpose in the 21st century. Chris Bryce, the chief executive of the Association of Independent Professionals and the Self-Employed, says those hit by rising national insurance contributions are not receiving all the benefits that employed people do.

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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.

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The United Kingdom, made up of England, Scotland, Wales and Northern Ireland, is an island nation in northwestern Europe.

The capital is London. The present monarch is Queen Elizabeth II.

The United Kingdom is the seat of the formerly extensive British Empire.

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