Rishi Sunak could postpone next month's controversial insurance hike

Rishi Sunak could postpone next month’s controversial national insurance hike for a YEAR, insists former Treasury watchdog official

  • Official said the 1.25 percentage point rise is ‘politicaland could be delayed
  • Sir Charlie Bean suggested the Government could borrow money needed instead
  • Downing Street has resisted clamour for rethink on the tax rise
  • The PM and Chancellor insist the £12 billion it will raise is needed to provide long-term funding for NHS and social care
  • Rishi Sunak could afford to postpone next month’s national insurance hike, a former Treasury watchdog official said yesterday.

    Heaping pressure on the Chancellor, Sir Charlie Bean said the 1.25 percentage point rise is ‘politicaland that there would be ‘no problemdelaying it for a year.

    Sir Charlie, who left the Office for Budget Responsibility at the end of last year, suggested the Government could borrow the money needed instead.

    唐宁街 has resisted a clamour for a rethink on the tax rise, which will worsen the perfect storm of soaring bills facing families this spring. The Prime Minister and Chancellor insist the £12billion a year it will raise is needed to provide long-term funding for the NHS and social care.

    But Sir Charlie – who was also previously deputy governor at the Bank of England – told the BBC: ‘There is no problem in the UK borrowing several billion pounds for one extra year.

    Rishi Sunak could afford to postpone next month's national insurance hike, a former Treasury watchdog official said yesterday

    Rishi Sunak could afford to postpone next month’s national insurance hike, a former Treasury watchdog official said yesterday

    ‘What you can’t run is sustained large deficits, but the pace at which you close a deficit is basically a political judgment.

    The Daily Mail has led a campaign to Spike the Tax Hike, which will be paid by workers and businesses. It will cost the average worker £250 a year more.

    与此同时, council tax bills will rise by up to 6 per cent and the energy price cap by 54 百分. The price of groceries is increasing, and the war in Ukraine is pushing up fuel and energy costs.

    The Treasury said: ‘We recognise the pressures people are facing with the cost of living and are providing support worth around £20billion this financial year and next to help.