William Hill have opened a market on the Chancellor’s controversial National Insurance increase for the self-employed – and are offering odds of 6/4 (40% chance of happening) that the new NIC rise WILL be implemented this year – and 1/ 2 that it will NOT be.
‘The adverse reaction to this issue appears to have taken Mr Hammond and Mrs May by surprise and there is speculation that it could be delayed and/or scrapped’ said Hill’s spokesman Graham Sharpe.
However, Hills do not believe that Philip Hammond’s future in the role is under threat and offer odds of 1/6 that he will still be Chancellor when the next General Election takes place, 7/2 that he wil not be.
My view is that this is not going to happen. There have been enough signs that a U-turn is being looked at.