DWP could rollout the 'end of the State Pension as we know it'

The Department for Work and Pensions could roll out the "end of the State Pension as we know it", it is feared. Chancellor Jeremy Hunt has proposed yet another National Insurance cut, saying the Conservative Party could continue to slash contributions for workers across the country - giving them more in their pay packets.

But Sir Keir Starmer’s party claims the rumoured plans to scrap National Insurance could see the “end of the state pension as we know it”. After Hunt’s speech, a Labour spokesperson said: “This is another desperate attempt by the Tories to deflect from their £46billion unfunded tax plan that could lead to higher borrowing, higher taxes on pensioners or the end of the state pension as we know it.

“All of Labour’s policies are fully costed and fully funded. Unlike the Conservatives, who crashed the economy, Labour will never play fast and loose with the public finances. Jeremy Hunt would be better spent getting Rishi Sunak to confirm the date of the election, rather than putting out any more of these dodgy dossiers.”

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But Mr Hunt branded Labour’s economic plans a “lie” and accused the party of spreading “fake news”, and trying to win the election by “scaring pensioners about a policy that is not true”.

When speaking about the Treasury analysis of Labour spending plans he said: “Even at the most cautious assumptions possible, it is not possible for Labour to fill this black hole other than by increasing taxes, and that is what a future Labour government will do.”

He added: "That is the difference between more jobs or fewer jobs, more people on welfare or fewer, tax cuts or tax rises, more growth or less growth. In short, a prosperous future or a poorer one.”

The Chancellor said: “It may sound good to offer full employment rights from day one, and certainly pleases the unions. But if the impact is fewer new jobs, then the impact on young people and families up and down the country will be an unmitigated tragedy.”