Changes to the National Insurance Fund won’t lead to poverty on the Island – but will provide “disincentives” to those who abuse it.
The controversial move comes as the UK media puts a spotlight on hardships that have been spurred on by welfare reforms.
Currently sitting at £650 million, the Island’s fund is set to peak at around 2036 and 2037, before beginning a sharp decline.
Treasury Minister Eddie Teare says government is aiming to remove the incentive for those people who prefer – but don’t need - benefits as opposed to working:
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