UK VOICE’s proposals aim to reform the current social welfare system to ensure fairness and sustainability for working individuals and those in need of support. Here’s a breakdown of the proposed policies:
- Fairness in Benefits:
- UK VOICE advocates for a fairer system where housing and unemployment benefits are tied to an individual’s contributions to the system and their projected lifetime contributions to the public purse through taxation.
- This approach aims to ensure that benefits reflect an individual’s level of participation in the workforce and their potential to contribute economically over their working lifetime.
- Yearly Tax Rebates:
- UK VOICE proposes replacing the current system of waiting until retirement to receive tax rebates with a yearly rebate scheme. Individuals would have the flexibility to choose how much of their rebate to take each year and how much to allocate towards retirement savings.
- This initiative aims to provide more immediate financial relief to individuals and empower them to make informed decisions about their finances, including retirement planning.
- Yearly National Insurance (NI) Credits:
- Instead of waiting until retirement to receive National Insurance credits, UK VOICE suggests providing yearly NI credits to individuals. These credits would recognize and reward ongoing contributions to the social welfare system.
- By providing yearly NI credits, UK VOICE aims to ensure that individuals receive recognition for their contributions to the system throughout their working lives, rather than only during retirement.
Overall, UK VOICE’s proposals seek to modernize and improve the social welfare system by promoting fairness, flexibility, and sustainability. By aligning benefits with contributions and providing more immediate financial support, these initiatives aim to enhance the well-being and financial security of working individuals and families.
