Friday, January 05, 2024

RISHI'S RAW DEAL -Pay £10 more tax and get £2 off

Poster campaign launched today in Wellingborough where Labour candidate, Gen Kitchen is campaigning to replace disgraced Tory MP, Peter Bone.

Hat tip Independent "From Saturday, the main rate of national insurance will be cut by two percentage points to 10%, as promised by Chancellor Jeremy Hunt in the autumn statement in November.

Ministers have previously said cutting the main rate for employees is a tax cut worth £450 for the average employee on £35,400 in 2024/25.

But Labour point out that income tax and national insurance thresholds, which have been frozen since 2021, mean that many families have been drawn into higher tax bands.

Shadow chancellor Rachel Reeves said: “Under Rishi Sunak’s raw deal, for every extra £10 people are paying in tax they are only getting £2 back.

“Working people know that this month’s tax con is just a cynical giveaway from a weak and out-of-touch Tory government that is desperate to cling onto power, rather than a credible plan to fix our broken economy".

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