Labour is right on NICs

Paying down the debt you need means getting the balance right between spending, tax income and economic growth. Tax income comes from Income Tax, VAT and NICs. Raising taxes is never welcome but at least NICs share the contribution between better paid employees and businesses. It’s the fairer way. The alternative is savage cuts in public spending.

Because lets be clear; public sector “efficiency savings” are not some financial magic wand. It means real cuts in jobs and services.

It means ordinary people paying the price for the excesses of big business and the “masters of the universe” in the big banks.

These are the same business leaders who said the Minimum Wage would cost jobs. It didn’t and we are a better country for it.

I’ve had enough of fat cat business executives - who will never feel the pain of public service cuts – telling the rest of us what we need to put up with whilst they rake in their bonuses and dividends.

Increasing NICs next year, as we get back into growth, is the fair way of getting the balance right.