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Tories make Nat Insurance pledge Tories make Nat Insurance pledge
(20 minutes later)
The Tories are to announce plans to block some of next year's planned National Insurance rises - and say how they will pay for the lost billions.The Tories are to announce plans to block some of next year's planned National Insurance rises - and say how they will pay for the lost billions.
Shadow chancellor George Osborne will pledge to scrap the 1% rise for those earning more than £20,000, while still charging top earners.Shadow chancellor George Osborne will pledge to scrap the 1% rise for those earning more than £20,000, while still charging top earners.
Describing it as "a tax on jobs and the middle classes", he will say seven out of 10 workers will be better off.Describing it as "a tax on jobs and the middle classes", he will say seven out of 10 workers will be better off.
Labour say National Insurance is one of many Tory plans as yet unfunded.Labour say National Insurance is one of many Tory plans as yet unfunded.
'Political own goal''Political own goal'
In the party's first major tax-cutting pledge in the run-up to the expected general election campaign, the Tories are expected to announce they would pay for the billions of pounds in lost tax by cancelling some projects in this financial year while pledging to reduce waste and cut the cost of procurement.In the party's first major tax-cutting pledge in the run-up to the expected general election campaign, the Tories are expected to announce they would pay for the billions of pounds in lost tax by cancelling some projects in this financial year while pledging to reduce waste and cut the cost of procurement.
That would result in an immediate cut to the budget deficit, they will say.That would result in an immediate cut to the budget deficit, they will say.
The planned rise in NI contributions for employers would also be scrapped under the pledge, the Tories say, but employees earning more than £37,500 are expected to still face the 1% increase.
They have entirely lost sight of cutting the deficit Liam ByrneChief Secretary to the TreasuryThey have entirely lost sight of cutting the deficit Liam ByrneChief Secretary to the Treasury
Chancellor Alistair Darling announced two 0.5% increases in National Insurance to take effect in April 2011 - one in his 2008 pre-Budget report and one in 2009.Chancellor Alistair Darling announced two 0.5% increases in National Insurance to take effect in April 2011 - one in his 2008 pre-Budget report and one in 2009.
They are central to the government's plans to cut the budget deficit.They are central to the government's plans to cut the budget deficit.
Mr Osborne will argue the chancellor scored a political own goal in this month's Budget, when he announced there were billions to be saved in so-called efficiencies, whilst insisting it would be wrong to spend less now.Mr Osborne will argue the chancellor scored a political own goal in this month's Budget, when he announced there were billions to be saved in so-called efficiencies, whilst insisting it would be wrong to spend less now.
BBC political editor Nick Robinson said the Tories' opponents would say "pledging lower taxes whilst cutting the deficit faster can only be paid for by dramatic cuts in spending which they've so far refused to spell out".BBC political editor Nick Robinson said the Tories' opponents would say "pledging lower taxes whilst cutting the deficit faster can only be paid for by dramatic cuts in spending which they've so far refused to spell out".
That argument is likely to feature when Mr Osborne, Mr Darling and Liberal Democrat economics spokesman Vince Cable go head-to-head on Monday night in a live debate on Channel 4.That argument is likely to feature when Mr Osborne, Mr Darling and Liberal Democrat economics spokesman Vince Cable go head-to-head on Monday night in a live debate on Channel 4.
This could trigger an intriguing political role reversal Nick RobinsonBBC political editor Read Nick's thoughts in fullThis could trigger an intriguing political role reversal Nick RobinsonBBC political editor Read Nick's thoughts in full
Hitting back at the Conservative's plans, the Chief Secretary to the Treasury, Liam Byrne, said: "They [the Conservatives] have entirely lost sight of cutting the deficit.Hitting back at the Conservative's plans, the Chief Secretary to the Treasury, Liam Byrne, said: "They [the Conservatives] have entirely lost sight of cutting the deficit.
"Rather than making more promises he can't afford, the test for George Osborne is to tell people how he'll pay for the ones he's got.""Rather than making more promises he can't afford, the test for George Osborne is to tell people how he'll pay for the ones he's got."
In January, two business groups urged the government to scrap the rise in national insurance, arguing it could endanger the economic recovery.In January, two business groups urged the government to scrap the rise in national insurance, arguing it could endanger the economic recovery.
The British Chambers of Commerce and the Chartered Institute of Personnel and Development (CIPD) said business would suffer from the extra financial burden which will hit any upturn in the labour market.The British Chambers of Commerce and the Chartered Institute of Personnel and Development (CIPD) said business would suffer from the extra financial burden which will hit any upturn in the labour market.