Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

UK's Johnson announces 1.25% levy to pay for health and social care reform

Published 07/09/2021, 12:52
Updated 07/09/2021, 12:55
© Reuters. Britain's Prime Minister Boris Johnson leaves Downing Street, ahead of addressing lawmakers about Britain's withdrawal from Afghanistan, in London, Britain, September 6, 2021. REUTERS/Toby Melville

LONDON (Reuters) - British Prime Minister Boris Johnson on Tuesday announced a 1.25% levy based on National Insurance contributions to come in from next April to pay for health and social care reform and help address a backlog caused by the COVID-19 pandemic.

"It would be wrong for me to say that we can pay for this recovery without taking the difficult but responsible decisions about how we finance it," Johnson told parliament.

"It would be irresponsible to meet the costs from higher borrowing and higher debt."

Latest comments

Ring fenced my...a..e. The money will go towards recouping some of the money paid to business for keeping staff on the books. Whenever have governments ring fence tax income such as road tax, National Insurance, cigarette tax, petrol tax, vehicle tax and vehicle excise duty. its just a way of getting money in and making it acceptable to the tax payer
More money out of pay packets means less discretionary spending and more big government. Not good and none of the so called opposition parties have anything to offer but more of the exact same.
Costs of Brexit hitting
Everyone who voted the tories kind of deseveres it , good boris
I own a dom care company looking after old people, can't see how any of this helps me, my staff or my customers
Boris the liar.
This makes Salary Sacrifice into your pension even more attractive. (Introduced by Gordon Brown in the 90's and ignored by far too many.)
save the 74 million it's costing to put our boat people in accommodation, hotels etc, and save the waste of money I last heard was about 54 million a year we pay to France to stop our boat people from coming across the channel.
It makes Salary Sacrifice into your pension even more attractive, introduced under Gordon Brown during the 90's. Ignored by far too many.
Absolute joke.. so we bring in 20000 people giving them everything but cripple the hard working people who are British nationals from way back in the family tree even more. Another great decision from the government to keep their people happy (not). How about managing the countries money in the right places with a better team in the financial industry. Bellends!
v v good safe
Or just bring in the wealth tax? Ah no, of course not- we’ll just saddle the nurses, doctors, teachers and everyone else who actually works for a living in this country with even higher levels of tax and then sneak even more out of the nhs backdoor or private Tory Nhs privatisation services which deliver no benefit to the user
not bothered so much by this increase but what does bother me is where the 350 million a week we were supposed to get back from the EU has gone 🤔
Afghanistan and the Dover boat people
Why don't we just cut MP finances and make them pay for their own houses, holidays and cars, just like the rest of us?
But no amazon tax! Shocking tax on the poor on top already of unfair council rises, all of which hit the low paid hardest
good
Dont be mean please. While we are enjoying our vast Amazon profits we must spare a thought for others.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.