Rishi Sunak's Plan Unveiled
Rishi Sunak is set to fund further National Insurance tax cuts by reducing benefits, according to recent reports. The Prime Minister is also gearing up for a pre-election Budget, expected to take place in September, marking the second Budget of the year.
Tax Cuts and Benefit Curbs
During last week's Budget, Mr. Sunak already cut 2p off NICs and aims to eventually eliminate the tax on wages completely, albeit over a period of time. This move has raised concerns about the source of funding for these tax cuts.
Sunak's Ambition and Strategy
Mr. Sunak emphasized the desire to end what he views as double taxation on work, labeling it as unnecessarily intricate. His long-term goal is to continue reducing NICs until it is entirely eradicated. He believes this approach will not only reward hard work but also simplify the tax system and create a fairer society.
Driving People Back to Work
To finance the tax cuts, the Chancellor plans to curb benefits and encourage more individuals to reenter the workforce. With approximately 2.5 million people currently out of work due to long-term sickness, the welfare bill has surged. Mr. Sunak stressed the importance of rewarding hard work and expressed his commitment to achieving this through NIC reductions.
Did you miss our previous article…
https://hellofaread.com/politics/warning-uk-at-risk-of-becoming-a-hostile-environment-for-jews/
