It took the government just under a week to announce its dramatic U-turn over National Insurance rates. <\/p>\n
How the policy the centrepiece of the Budget unravelled: <\/p>\n
1.15, 8 March: Philip Hammond announces increase in National Insurance rates for around 2.5m self-employed people. <\/p>\n
1.30: In a chaotic post-Budget briefing, Treasury aides deny the tax hike breached the Tory manifesto promise. Mr Hammonds spokeswoman argues that the policy had been fleshed out in a taxation Bill published two months after the election. <\/p>\n
9 March: Newspaper headlines about the policy are universally damning. <\/p>\n
Conservative backbench protests mount against the move. By the end of the day, 20 have been openly critical. <\/p>\n
A Welsh Office minister, Guto Bebb, says the government should say sorry for the policy. <\/p>\n
Theresa May, speaking in Brussels, insists the policy would make the tax system simpler, fairer and more progressive. But she promises to delay it until the autumn following further consultation. <\/p>\n
10 March: Footage emerges of David Cameron apparently describing as stupid the decision to break the manifesto promise. <\/p>\n
11 March: Ex-Chancellor Norman Lamont mocked by Mr Hammond in his Budget speech attacks the rookie error. <\/p>\n
12 March: Sunday newspapers carry lurid accounts of recriminations between Downing Street and the Treasury over the NI decision. <\/p>\n
14 March: Business minister Margot James lets slip that the policy is under review, saying the increase had simply been mooted. <\/p>\n
Morning, 15 March: Theresa May and Philip Hammond meet in Downing Street and agree to abandon the planned rise. <\/p>\n
11.32: Minister Rory Stewart defends the rise on BBC1s Daily Politics. <\/p>\n
11.37: U-turn announced in letter from Mr Hammond to Tory MPs. <\/p>\n
12.02: At the beginning of Prime Ministers Questions, Theresa May confirms that the planned increases have been scrapped. <\/p>\n
<\/p>\n
Originally posted here: It took the government just under a week to announce its dramatic U-turn over National Insurance rates. Continue reading
\nThe anatomy of Philip Hammond's U-turn over National Insurance - iNews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"