Boris is about to break his manifesto promise by raising National Insurance to pay for social care.
According to sources, BORIS JOHNSON is ready to propose a raise in National Insurance (NI) in order to address the social care problem and reduce NHS waiting times.
The decision would violate his vow in his 2019 manifesto to maintain the same rates for NI contributions, resulting in an increase in taxation for nearly 25 million people. However, the Prime Minister and his Chancellor, Rishi Sunak, are still at odds over how much of an increase there should be. According to the Daily Telegraph, Mr Johnson favors a 1% boost, while the Treasury is pressing for a 1.25 percent hike.
According to the publication, the ideas envision limiting the amount anyone will have to pay for social care in their lifetime to between £60,000 and £80,000.
Furthermore, the so-called “floor” will be raised dramatically to safeguard vulnerable elderly people from having to sell their homes to pay for care.
Currently, a person must have less than £23,250 in their bank account before the government will assist them.
That threshold will be raised to £100,000 under current proposals.
Money raised from the NI increase will be used to help the NHS clear backlogs caused by the Covid epidemic.
In England, approximately 5.5 million individuals are waiting for NHS hospital treatment, with predictions that this number might climb to 13 million.
Depending on the strength of the UK economy, the ideas might raise £10 to £13 billion each year for the Treasury.
The move poses a significant political risk for the Prime Minister, as it contradicts an explicit vow in the Prime Minister’s 2019 manifesto not to hike NI contributions.
The manifesto stated, “We commit not to raise income tax, National Insurance, or VAT rates.”
Insiders on Downing Street, on the other hand, are optimistic that voters will approve the measures and that the Tories will benefit politically as a result.
“Personally, I think the Conservatives will get a lot of credit for this,” a Cabinet member told the Daily Telegraph.
“The majority of voters are not ideological. They will think to themselves, “That is a difficult task.”
“Labour will find it more difficult to argue that the Conservatives are unconcerned about the NHS.”