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Free AccessSky: Gov't Will Look To Hold NI Hike Vote Tomorrow To Avoid Opposition
Beth Rigby at Sky News tweets: "Understand there will be a vote in the Commons tomorrow on the NI rise. PM clearly keen to push thru quickly and avoid a space for growing and vocal opposition to his plan to build"
- Earlier PM Boris Johnson confirmed action to increase National Insurance to pay for NHS and elderly social care, tweeting: "Today I will set out my plan to ensure the NHS has the long term funding it needs so that we can help our NHS as it helped us...the inevitable result of [the pandemic] is that COVID has caused mounting backlogs and the number of patients needing care is at a record high. So I will set out how we will support the NHS in the biggest catch-up programme in its history. I will also set out a plan for social care to ensure that older people get the best possible care, without the fear or anxiety of catastrophic social care costs."
- The Sun is also reporting the gov't is set to raise tax hikes on shareholder profits, stating that, "Boris Johnson will today unveil a massive raid on shareholder profits to raise billions for the NHS and Social Care...Cabinet sources say people who play the stocks and shares will still be allowed a personal allowance before the the new tax hike kicks in, with only the most profitable market speculators affected."
- The scale of potential rebellion on the Conservative benches not yet known. Has been some vocal opposition to the manifesto pledge-breaking hike, but remains to be seen whether this translates into Conservative MPs voting against the increase.
- Link to PM's statement to Commons at around 1230BST: https://www.youtube.com/watch?v=afKog8yTRPM
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.