Chancellor U-turns on controversial National Insurance tax hike

Chancellor U-turns on controversial National Insurance tax hike Philip Hammond’s disastrous first budget as chancellor has resulted in his personal reputation taking a serious hit, polling has revealed. The public had taken a generally positive view of his abilities in November with a survey giving him a net

The Times (subscription)

Philip Hammond admits he broke voters’ ‘trust’ over National Insurance hike

Hammond has made a major U-turn on the Budget he set out only last week, by scrapping the planned rise in National Insurance contributions for the self-employed. The change would have impacted self-employed workers earning more than £16,250 and …


Chancellor U-turns on controversial National Insurance tax hike

Shadow chancellor John McDonnell said the Government was in “chaos” and called on Mr Hammond to apologise. Philip Hammond has chose to scrap plans to raise national insurance on the self-employed a week after he announced them in the Budget, …


Philip Hammond Drops Plans To Increase Tax On Self-Employed Workers

Plans to increase National Insurance levels for self-employed people – announced in the Budget last week – have been dropped. “There will be no increases in NICs rates in this parliament”, he wrote. Respected economic think-tank, the Institute for


The Baroness who told Philip Hammond his National Insurance hike had to go: what really happened in the Budget U …

In the end, it took less than an hour for Philip Hammond to agree one of his Budget’s biggest revenue raisers should be scrapped. Summoned to Number 10 at 8am on Wednesday, the writing had been on the wall after days of damaging headlines and Tory …

The UK And The Brexit Storm Which Is Approaching

By the time you read this, the conservative Chancellor Philip Hammond will have posed in front of number 11 Downing Street, holding up the famous scarlet briefcase with the annual budget papers. This scene is repeated every year. Hammond, like every UK …

The Corner Economic

Fire Hammond? He’s unsackable, say his allies: Colleague says there is ‘no credible alternative’ for the job after …

Allies of Philip Hammond last night insisted he remains unsackable as Chancellor, despite his humiliating U-turn over a Budget tax raid on the self-employed. The Chancellor’s political future was thrown into doubt on Wednesday after he was forced to …

Daily Mail

Hammond Says EU Stance on Brexit Bill is `Negotiating Position’

U.K. Chancellor of the Exchequer Philip Hammond dismissed suggestions that the European Union would refuse to start trade talks until Britain had agreed to settle its Brexit bill as a “negotiating position,” saying he didn’t recognize the amounts

Hellenic Shipping News Worldwide

Treasury eyes pension tax relief cuts (again)

The Treasury is considering making change to pension tax relief in order to fill a £2 billion funding gap left by the decision to drop increases in national insurance contributions (NICs) for self-employed people. Chancellor Philip Hammond (pictured

Philip Hammond in dramatic U-turn over Budget National Insurance hike

The furious outburst came as Mr Hammond backtracked on raising National Insurance Contributions (NICs) which was criticised for breaking a 2015 manifesto pledge. Mike Cherry, FSB national chairman, said, “We are delighted for our members and all the …


Philip Hammond accused of breaking another manifesto over childcare places

A HUMILIATED Philip Hammond was accused of reneging on another manifesto promise last night after Budget documents revealed setbacks over free childcare places. Details buried in official papers showed the supply of places was predicted to “rise more …

The Sun

Theresa May says she has ‘absolute faith’ in Chancellor despite Budget U-turn

The government has announced a U-turn on its controversial plans to increase National Insurance Contributions for self-employed workers. “Ahead of the Autumn Statment a year ago, the Prime Minister and I decided that, however hard the fiscal challenges …


Even three quarters of TORY voters back 50p top tax rate in new blow for Chancellor Philip Hammond

Nearly eight in ten voters think Philip Hammond should hike income tax for those earning more than £150,000 a year. The Chancellor gets another pounding in today’s exclusive ComRes poll for the Sunday Mirror over his disastrous Budget 12 days ago.

Brexit ministers demand Phillip Hammond provide them with ‘hundreds more’ members of staff amid cuts

Brexit ministers are demanding that Phillip Hammond provide them with “hundreds more” members of staff after departments have been forced to make cuts. Mr Hammond has ordered the Trade Department and the Foreign Office to cut spending by 6 per cent …

The Independent

UK spending cuts possible to offset tax U-turn

LONDON: UK chancellor of the exchequer Philip Hammond suggested he may have to make spending cuts in his autumn budget to fill the gap in public finances created when he was forced to scrap his plan to raise insurance taxes for the self-employed.

The Star Online

‘Why did Chancellor Hammond make taxpayers fund electric car battery development?’

As a former Transport Secretary, Philip Hammond knows all about drivers, the vehicles they use, highways they drive and frustrations they endure. What’s more, he’s more aware than most that we drivers cough up £165million a day in road-user taxation …


Philip Hammond’s allies warn Theresa May she will damage her authority if she sacks him

Philip Hammond’s allies have warned Theresa May that sacking him would deal a “crushing” blow to her authority and claimed he is the victim of a Eurosceptic plot. The Chancellor was on Wednesday forced into a humiliating Budget reversal after the Prime …

Tories condemn May over chancellor’s national insurance humiliation

Moderate Conservative backbenchers have rallied behind Philip Hammond and said Theresa May should have done more to defend his plan to increase national insurance contributions for the self-employed.

The Guardian

Hammond’s right – National Insurance is crying out for reform

Politicians used to be made of sterner stuff. Time was that they would announce a tax increase in the Budget in the full knowledge that those whom it hurt would cause an outcry. That vintage of chancellor thought through policy in advance to satisfy

Personnel Today

Philip Hammond faces mutiny from Brexit ministers as Whitehall departments demand more money after Budget …

Brexit ministers have demanded Philip Hammond pays for hundreds of extra officials amid fury that departments have been forced to find cuts. Senior figures in the three Whitehall departments delivering Brexit have told The Telegraph that the Treasury

Budget tax reform a hint of changes to come

Social care, the National Health Service, infrastructure and “restoring the public finances to health” costs money. That money has to come from taxes – and despite Philip Hammond’s Spring Budget being a slimline 69 pages long (compared with former …

FT Adviser