Tax hike
Tax hike

New figures released by Newcastle Labour reveal that families are facing a 22.1 million NICs hike thanks to the latest Tory tax rise. Under the Conservatives’ plans to raise National Insurance this April, the average worker in Newcastle will pay an extra £260 in NICs alone.

The increase pushes taxes up to a 70-year high – and comes at a time when energy bills are set to rise by almost £700 and inflation is at a 30-year high.

Publishing the figures, Labour’s Paula Holland said:

“Families in Newcastle are facing a cost of living crisis, yet incredibly, instead of helping people get by, the Conservatives are making things worse by raising taxes – at the worst possible time.

“Energy prices are soaring, inflation is the highest it’s been in decades and families are struggling to make ends meet. This government will happily write-off billions in fraud and waste, but when it comes to the people of Newcastle, the Conservatives tell us they need a 22.1 million  tax hike.

“The truth is, Boris Johnson’s government is so focused on defending their own indefensible law breaking, they are failing at the basics. With energy bills soaring they force families to take a loan, and with the cost of living crisis deepening they force workers and business to pay higher taxes. This is a shambles, it’s hurting families in Newcastle and it’s time for a change.”

 

Notes:

National Insurance is set to rise for workers and businesses by 1.25% from April

https://ifs.org.uk/publications/15929

Based on analysis by Newcastle Labour, that hike will hit workers in Newcastle by an average of £260 for each of Newcastle’s 85,000 workers – 22.1million in total

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