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George Osborne announces partial reduction in planned national insurance rise

George Osborne yesterday grabbed the moral high ground in the battle for the hearts and minds of UK workers with an announcement that the Conservative party would partially reduce the planned national insurance rise announced by the Labour government. George Osborne has guaranteed there will be no national insurance rise for those earning under £35,000 a year in the UK and while this will cost the Treasury £5.6 billion in lost revenue he has targeted efficiency savings in the public sector to cover this.

This is a very clever move by George Osborne because ultimately he is now promising to put money in the pockets of workers at the expense of the public sector. This is certain to grab the attention of workers in the UK and highlight the potential savings available in the public sector and the very fact that more than 50% of the UK workforce is now employed by the state. We have seen a massive increase in the number of state employees since the Labour government came to power and while it will be difficult to reduce these numbers significantly in the short to medium term, the Conservative party looks ready to take on the battle.

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