Britain to raise taxes to pay for social care
#Britain is expected to announce a tax hike for about 25 million people, in a move that would cap social-care costs for individuals and increase funding for the National Health Service, the Telegraph newspaper reported on Thursday.
UK Prime Minister Boris #Johnson next week will reveal the rise in National Insurance, a type of tax paid to fund government benefits programs, the report said.
The prime minister’s office favours a 1% rise in the tax, while the Treasury is possibly looking at a higher rate of up to 1.25%, according to the report.
In return, the government will cap the amount a person can spend on social-care costs during their lifetime, possibly at between 60,000 pounds ($83,010) and 80,000 pounds, according to the newspaper.
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