Boris Johnson and Rishi Sunak have penned a joint article to outline what they are calling “the single biggest tax cut in a decade” in what they hope to be a show of unity on the cost-of-living crisis.
Writing in the Sun on Sunday, the Prime Minister and Chancellor said when the National Insurance threshold rises overnight this coming Wednesday from £9,880 to £12,570, it will save 30 million British workers up to £330 a year. They added that the "historic" tax cut will amount to £6 billion in value and lift 2.2 million people out of paying “any National Insurance or income tax on their earnings at all”, with “around 70 per cent of British workers” paying less National Insurance.
In the rare joint article, they outline the billions the Government plans to spend to cushion the blow of inflation by also providing relief for council tax bills, fuel duty and energy costs. It comes after the Prime Minister’s denial that his Government was being “complacent” about spiralling inflation and said the “cost of freedom” was “always worth paying” amid soaring costs exacerbated by the Ukraine war.
