Quote:
Originally Posted by RichardCoulter
Not correct, although the surplus from the NI fund is often borrowed by Governments.
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Stop digging yourself into a hole, Richard.
The separate statement of NI as a distinct figure within treasury accounts is entirely a paper exercise. In reality, all claims of contribution-based benefit are a liability to the taxpayer because it is a liability that has to be met, whether the NI "fund" has sufficient in it to cover the claim or not.
Stating that it is "often borrowed by governments" makes no sense. It is the government that collects it and spends it, and it is the government that manages the accounts that shows where the money comes from and where it goes.