UK Finance Minister Rishi Sunak said that it makes an increase in tax in the country, reports Sky News.
Commenting on a possible growth of nine percent of a single social tax, which is a mandatory payment within the framework of national insurance, the minister indicated that it would not deny such an opportunity. “People need to know what we want to invest more money in social security,” Rishi Sunak noted. Also, the Association of Local Government reported that taxes would have to raise due to higher expenditures for the elderly, disabled and people with chronic diseases.
At the same time, the UK tax burden is now in a historically high level, the prospect of a further increase in payments may reduce the actual disposable income of the British on the background of growth of energy and food costs. The leader of the House of Commons and a member of the Conservative Party of Jacob Rice-Mogg also stated that taxes in the country had reached their limit.
Earlier, the Government of Great Britain has already informed the increasing tax on the wage and tax tax and tax tax to help the National Health Service and reform the social support system. For national insurance, payroll tax and dividends will increase by 1.25 percent. It is expected that it will bring 36 billion pounds (49 billion dollars) over the next three years.
However, one only increases tax for national insurance will not be enough, prevents the Association of Local Self-Government. A new tax will not fully cover social assistance costs for the next three years, and municipal councils in Britain will face additional costs to maintain the work of the services at the same level. At the same time, additional costs may appear against the background of a forced increase in wages, which caused a shortage of labor due to the country’s exit from the European Union (EU) and the effects of a pandemic.