Hooper pleased public will have their say
A Ramsey MHK is hoping Treasury will move towards a more principled approach when it comes to National Insurance contributions.
In Tynwald this month Lawrie Hooper sought to scrap the age cap on contributions for the 2025 financial year.
This was amended by the treasury minister, to say that there will be further consultation on the matter which was agreed to by the court.
Mr Hooper is pleased with the outcome because he believes the current system does not suit everyone:
Currently only those aged between 16 and 66 contribute to National Insurance.
These contributions fund the state pension, benefits, and the NHS, making them a critical part of the social security system.
The proposal from Mr Hooper followed a public consultation, conducted by Treasury in 2022, which revealed strong support for reforms to the National Insurance system.
Respondents expressed an 'overarching desire for fairness' and backed the idea of initial changes to the system.
In November Treasury Minister Alex Allinson appealed for a 'national conversation' on how to preserve the Manx NI fund with consideration being given to abolishing the triple lock in place of other considerations.
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