When you are in a hole, stop digging!

15 Jun 2017

The number of self-employed people has risen by 103,000 to 4.8m, accounting for 15% of all people in work, according to the ONS. In response to the figures, the FSB is calling on the Government not to revisit failed plans for a NI hike. Mike Cherry, national chairman at the FSB, said: “The self-employed community is an increasingly critical driver of economic growth in the UK. As the self-employed battle spiralling inflation and a new wave of political uncertainty, the last thing they need is for the Government to revisit failed plans for a national insurance hike.”  Yes we should abolish NI and admit it is tax, no we don’t need lower corporation tax, yes we need simplification, no we don’t need extra returns with digital tax, and we certainly don’t need any more tax bands, special allowances, or tinkering with pensions.  Any changes for the time being should be to accommodate Brexit, not political dogma or pet projects.

To repeat my favourite adage, When you are up to you neck in alligators is not the time to drain the swamp!