Johnson Urged to Scrap $16 Billion Tax Rise as Living Costs Soar

Jan. 6, 2022, 1:14 PM UTC

One of Boris Johnson’s most senior ministers urged the prime minister to ditch a 12-billion-pound ($16 billion) rise in national insurance amid concerns about the rising cost of living in the U.K.

Leader of the House of Commons Jacob Rees-Mogg, who oversees the parliamentary timetable, told the cabinet on Wednesday that the 1.25% rise in the payroll tax -- designed to help pay for the National Health Service and the growing cost of social care -- should be shelved as inflation and energy bills surge, according to a person familiar with the matter, who asked not to be ...

Learn more about Bloomberg Tax or Log In to keep reading:

See Breaking News in Context

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools and resources.