‘No new taxes’ Jacob Rees-Mogg fires warning amid National Insurance hike fears | Personal Finance | Finance

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Some cabinet ministers are concerned the party is about to make a similar mistake and those who voted for the Conservatives at the last election are unlikely to forget.

Prime Minister Boris Johnson is expected to announce a long-awaited plan to reform social care this week, with reports suggesting that this could amount to a raise in National Insurance by one percent, or even higher next April to help fund social care and the NHS following the COVID-19 pandemic.

A 1p increase to National Insurance would bring in about £11bn, of which employers would pay £6.5billion and employees £4.3billion.

Meanwhile, other Tory supporters have also raised concerns over the plans with former Conservative deputy chairman Lord Ashcroft tweeting the 2019 manifesto pledge with the comment “a reminder”.

READ MORE: Could social care be the final nail in Boris’s coffin?





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