Originally posted by Perry
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Universal superannuation (1940)
A new Social Security tax of 5 percent of earnings (one shilling in the pound) was introduced to cover the increased costs of pensions, other social security payments and health. In practice the tax was not enough, and much of the social security cost increases had to be funded from general revenues.
A new Social Security tax of 5 percent of earnings (one shilling in the pound) was introduced to cover the increased costs of pensions, other social security payments and health. In practice the tax was not enough, and much of the social security cost increases had to be funded from general revenues.
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