The government has unveiled a health and social care plan that’ll see a 1.25% rise in National Insurance and dividend tax
To help the country bounce back from the devastating economic impact of the coronavirus, Prime Minister Boris Johnson has announced a 1.25% rise in National Insurance to help fund health and social care. Estimated to raise up to £12 billion a year, the National Insurance rise has gone against the Conservative Party’s manifesto pledge and has been greeted with mixed feedback. However, it’s not the only pledge that will impact the country. Limited companies will also be subjected to increased share dividend tax. This article will summarise the government’s health and social care plan and how it’ll impact workers in the UK.