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       Rachel Reeves says Nigel Lawson was right on National Insurance
        
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       # Rachel Reeves says Nigel Lawson was right on National Insurance
        
       The shadow chancellor said abolishing National Insurance was a "tax
       bombshell aimed at British pensioners".
        
       Rachel Reeves recalled a 40-year old warning from the late former
       Conservative chancellor Nigel Lawson, later Lord Lawson, not to
       abolish the tax as the policy had "little practical merit" and would
       "create many losers".
        
       Speaking in a speech in the City of London, Ms Reeves said abolishing
       NI would mean income tax going up by eight percentage points.
        
        
        
        
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