Taxing the multi-millionaires – getting national insurance right

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In a series of videos on taxing multimillionaires, I am exploring the changes to the UK's tax system that are required to tackle the problems that growing inequality in the UK is creating.

Having explored the background to this issue in the first three videos in this series I am now exploring, video by video, the changes required to the many taxes in the UK that are biased towards the wealthy. In this video I look at National Insurance, which is a deeply unfair tax that has a significant bias that favours higher earners because under the existing rules of this tax they pay lower overall rates of national insurance contribution than those on average earnings in the UK. I do, of course, include suggestions for reform.