Jonathan Reynolds stated that Labour’s pledge to refrain from raising national insurance “was specifically in the manifesto, a reference to employees” on Sunday Morning with Trevor Phillips.
Both companies and employees pay national insurance, and it’s unclear if Labour’s promise not to raise taxes covered both charges.
Sir Keir Starmer declined to rule out tax increases during Wednesday’s prime minister’s questions.
The strongest indication to date that such a hike is being contemplated is the business secretary’s remarks.
The proposal, however, runs the risk of causing a rift with businesses, who would be negatively impacted by the tax increase, and might raise concerns about the government’s commitment to economic expansion on the eve of a significant investment summit.
It also follows a dispute with the corporation DP World over remarks made by the transport secretary, which led the company to reexamine a £1 billion port investment in London.
That vow included taxes on working people, as you are aware. The manifesto already covers a lot, but you will need to wait for the budget’s specifics. Mr. Reynolds stated that this budget will be for expansion.
