Chancellor accused of imposing a’stealth tax on the self-employed’, according to Rishi Sunak’s approval rating.


Chancellor accused of imposing a’stealth tax on the self-employed’, according to Rishi Sunak’s approval rating.

RISHI Sunak, despite suffering criticism for his budget statement last month, is the most popular Tory MP, according to the latest surveys. Could the Chancellor be the most likely candidate to succeed Boris Johnson as Prime Minister? According to the most recent polls, the Chancellor of the Exchequer remains the most popular Conservative MP. He has, however, come under fire for the budget he unveiled in October, with some accusing him of imposing a “hidden tax on the self-employed.” So, what led to these charges, and how have they influenced public perception of him? Mr Sunak’s approval rating was 35 percent at the start of November, according to the latest YouGov numbers.

This was the highest of any Tory politician, including Boris Johnson, the Prime Minister.

In a YouGov poll, Mr Johnson received a 34 percent approval rating.

When compared to his approval rating for the second quarter of 2021, however, Mr Sunak’s approval rating has dropped from 42 percent to his current position.

One of the possible causes of this decline could be the Chancellor’s announcements of tax and spending adjustments outside of regular budgets.

Mr Sunak also unveiled his third budget, which he described as a “tax, spend, and save” budget, last month.

Soon after his announcement, the Chancellor was chastised and accused of imposing a “hidden tax on the self-employed.”

The focus was on a provision in the budget’s fine print that is expected to cost single traders more than £1.7 billion.

Mr Sunak modified the rules for how tax is computed for unincorporated enterprises, such as sole traders and trading partnerships, in his budget.

The update was made to simplify what was previously seen to be a complex system.

According to the Chartered Institution of Taxation, the change will raise an additional £1.715 billion for the Exchequer.

For half a million self-employed persons, this translates to an extra bill of more than £3,000 on average.

Mr Sunak defended his budget in the House of Commons earlier this month, saying that “there were no higher taxes for the self-employed” in it.

He claimed the increase was due to a “timing discrepancy that was reflected in the Budget scorecard.”

“Take a time to ponder on the reality that this Government supplied,” he remarked, referring to the self-employed. “Brinkwire Summary News.”


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