Farage calls for National Insurance rise to be scrapped as Sunak unveils new proposals
Nigel Farage calls for National Insurance rise to be scrapped
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The GB News presenter said the rise was the “last thing” that the Chancellor should be doing given the cost of living crisis. Mr Farage said the country was facing the worst cost of living crisis “in fifty years” and he wasn’t “sure” if people realised how difficult things would become.
He said: “Rishi Sunak said ‘I’m a low tax guy’ hmm interesting.
“A little like people who said they voted remain but were leavers. I couldn’t quite work it out.
“You see the opposite actually if you think about it is true.
“Freezing tax bands way below rates of inflation so that more and more people get trapped in the 40 percent tax bracket.
“Raising national insurance on employers and of course employees and don’t forget the amount of VAT we pay is also going up as prices rise.
“When you look at that and think about that and add it to the worst cost of living crisis in fifty years.”
It comes as Chancellor Rishi Sunak is expected to announce that he is pressing ahead with the planned national insurance rise in his spring statement on Wednesday.
It is due to rise by 1.25 percentage points from 12 percent to 13.25 percent.
Mr Sunak has justified the rise to raise extra funds for the NHS and social care that were adversely impacted by the coronavirus pandemic.
However, Mr Farage joined critics who argue that the rise should be scrapped because of the ongoing cost of living crisis.
He said: “I’m not sure if most people have realised just how difficult this is going to be when they start to get their bills through in the first couple of weeks of April and when food prices really start to hit the weekly shopping basket.
“We’ve got forecasted growth of 3 percent this year going down to 1.3 percent next year.
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“Inflation is running at 8 percent and many think it could go as high as 10 percent.
“It’s called stagflation. It is a period when you have inflation in a relatively stagnate economy.
“I think right now the last thing the Chancellor should be doing is putting up national insurance.
“Putting up taxes and those tax rises I repeat not just on employers but on employees as well.
“We’re told that up to five of the cabinet feel very strongly about this and whose to say overnight there might be one or two very big changes.”
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