Tory MP lists three taxes Boris and Rishi should cut to ease cost of living crisis | Politics | News
Wokingham MP Sir John Redwood has said the Prime Minister and Chancellor should scrap the recent National Insurance hike, suspend VAT on home heating bills and bring forward the planned income tax cut as households grapple with the soaring cost of living. The former cabinet minister also called for an increase in Universal Credit payments to help the most vulnerable.
Sir John, a fellow at Oxford University, told Express.co.uk: “I would cancel the National Insurance hike.
“I don’t think you want to tax labor more heavily. The best way to pay your bills is to have a job.
“Not everyone can do it, so you have to be a little more generous on Universal Credit for people who have no other income.
“I would, at least, suspend VAT on home heating bills. And then I would probably do a little on income tax as well.”
Urging Mr Johnson and Mr Sunak to act immediately, the Brexiteer added: “All of this you need to do now.
“I wanted it done in early April because I’ve been warning for a long time, like others, that it’s coming.
“I wanted people to have the money available from April when the bills started coming in.
“So the sooner the better. The Prime Minister and the Chancellor will sort it out in a few days and then they should announce it to Parliament and move on.”
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Sir John’s comments come after he took to Twitter earlier this week to unveil his own economic policy, prompting some commentators to call on him to replace Mr Sunak as chancellor.
It comes as inflation hit a 40-year high of 9% in April, as Britons face sky-high energy bills and food costs, while petrol and diesel prices have risen. reached record levels.
The Bank of England warned earlier this month that the pressure is set to leave the UK on the brink of recession.
Mr Johnson and Mr Sunak are under increasing pressure to take further action to tackle the crisis.
A government spokesperson said: ‘We understand that people are struggling with rising prices, and although we cannot protect everyone from the global challenges we face, we are helping British families navigate in the coming months with a £22bn package of support.
“This includes saving a typical employee over £330 a year from a tax cut in July, allowing people on Universal Credit to keep more of the money they earn – benefiting over a million families around £1,000 a year and supplying millions of households. with up to £350 each to help you cope with rising energy bills.
“The Chancellor has been clear that as the situation evolves, our response will evolve – and we are ready to do more.”