Anyone for ‘social insurance’?

Apparently ..

Theresa May is being urged to consider reviving the principle of social insurance to help struggling low-paid workers, as she prepares to flesh out her vision of “a country that works for everyone”.

The PM will chair the first meeting of her social reform cabinet committee this week in a bid to show that improving the lives of those she described in her first speech in Downing Street as “just managing” is high on her agenda -

One option thought to be under consideration is to shift the focus of welfare policy from the cost-cutting approach of George Osborne, which many Conservatives believe reached its limit when reductions to tax credits and disability payments were rejected by his own backbenchers during a public outcry, to a self-help system.

May’s new director of policy, John Godfrey, is a keen advocate of what in his last job, at financial services giant Legal and General, he called “Beveridge 2.0”: using technology to introduce new forms of social insurance ...

More @ http://www.theguardian.com/politics/2016/aug/29/theresa-may-urged-revive-social-insurance

We could call it National Insurance.