Treasury written question – answered am ar 19 Medi 2023.
Duncan Baker
Ceidwadwyr, North Norfolk
To ask the Chancellor of the exchequer, if he will make an assessment of the potential merits of calculating national insurance contributions using the combined income from multiple employers.
Victoria Atkins
The Financial Secretary to the Treasury
National Insurance Contributions (NICs) are assessed on a pay-period basis per each employment. Requiring the aggregation of earnings for NICs of people doing more than one job with multiple employers would be administratively complex, increasing the burden on employers.
However, the Government keeps all taxes, including NICs, under review.
Yes2 people think so
No2 people think not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
