The ￡12bn a year extra for health and social care as a result of Boris Johnson’s tax hike risks being swallowed up by the NHS, an economic think tank warned. The Institute for Fiscal Studies( IFS) has warned that very little might be left available for social care, even once funding from the new levy is expected to shift away from the NHS. Under the plans announced by the prime minister the NHS will get the bulk of the ￡36bn raised over the first three years, with ￡5. 4bn earmarked for social ca

Earnings over ￡125, 140 are taxed at 45%. But while freezing those levels is not technically a tax rise, more people will be dragged into higher tax bands as their salaries rise, meaning they would give more to the Exchequer. The move would raise about ￡7billion for the Treasury.... This may include adverts from us and 3rd parties based on our understanding....