Rachel Reeves has 'left door open' for National Insurance tax hike, Tories have warned (Image: GETTY)
Rachel Reeves has “left the door open” for a huge National Insurance tax hike, Tories told the Express.
Speaking in Portcullis House the day before Labour sets out its schedule for government a Conservative MP and senior former Cabinet minister claimed the Chancellor was about to make “significant changes” to taxes.
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Sir Keir Starmer’s new government is expected to lay out at least 35 new bills as it sets out its agenda for the upcoming Parliamentary term in the King’s Speech tomorrow.
While exact fiscal policies are not expected to be announced, with more sweeping general reforms such as shaking up the bloated House of Lords likely, Tories fear the direction of travel is clear.
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Rachel Reeves attends a cabinet meeting in London (Image: Getty)
Labour repeatedly insisted there would be no tax hikes on “working people” during the summer’s general election campaign.
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In its manifesto, the party states: “Labour will not increase income tax, national insurance or VAT.
“Unlike the Tories, we have been clear about how we will pay for our first steps in government: by making the tax system fairer. Ending tax breaks for private schools, which exempt them from VAT and business rates.10 Jun 2024.”
But there is already alarm building among newly returned Conservatives in Parliament about what is to come.
One senior MP said: “There is a real concern among my colleagues about what Labour is about to do.
“As Conservative MPs, we feel like we are under attack.”
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Another top former Cabinet minister said: “It is vital we hold them to account now.”
One major policy decision concerning Conservatives is any changes to taxes.
When the question of a cut to National Insurance came before the Commons on March 13, 2024, Sir Keir instructed his MPs to abstain from the vote.
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A former Tory cabinet minister has now warned that this was a major clue of what will come under a Labour government.
The Conservative MP said: “Labour MPs were told to abstain on voting for a cut to National Insurance. Why?
“So the door could be left open by Rachel Reeves for the levy to be hiked. This should be really concerning.”
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