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UPDATED: UK PM Johnson to hike taxes to pay for social care

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British Prime Minister Boris Johnson set out plans on Tuesday to raise taxes on workers, employers and some investors to try to fix the health and social care system, angering some in his party for breaking an election promise.

After spending huge amounts of money to fight the COVID-19 pandemic, Johnson is returning to an early pledge to address Britain’s creaking social care system, where costs are projected to double as the population ages over the next two decades.

He also moved to try to tackle a backlog in Britain’s health service, which has seen millions waiting months for treatment from the National Health Service, after resources were refocused to deal with those suffering from the novel coronavirus.

Earlier:

Prime Minister Boris Johnson will address lawmakers on Tuesday on his plans to fix Britain’s social care system, with many in his own party furious that he wants to pay for it by hiking taxes in a clear breach of his election pledges.

After splurging on the COVID-19 pandemic, Johnson is now trying to address Britain’s creaking social care system, whose costs are projected to double as the population ages over the next two decades.

For years, British politicians have been trying to find a way to pay for social care, though successive Labour and Conservative prime ministers have ducked the issue because they feared it would anger voters and their own parties.

Johnson wants to raise the National Insurance (NI) tax paid by around 25 million working people to subsidise care for pensioners, including wealthy retirees, according to British media.

The prime minister will chair a cabinet meeting on Tuesday morning and is afterwards expected to address parliament at around 1130 GMT. Johnson, his finance minister Rishi Sunak and health minister Sajid Javid will then hold a news conference.

via Reuters