State Retirement Pensions: Finance

(asked on 7th March 2024) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to his Financial Statement from 6 March 2024, Official Report, column 851, whether his Department has made an assessment of potential alternative funding mechanisms for the State Pension.


Answered by
Nigel Huddleston Portrait
Nigel Huddleston
This question was answered on 14th March 2024

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

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