Johnson, Sunak Vow to Go Ahead With National Insurance Hike
- Some Conservatives had called for move to be delayed
- Tax increase comes as U.K. faces cost of living squeeze
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U.K. Prime Minister Boris Johnson and Chancellor Rishi Sunak said they’ll press ahead with a 12 billion pound ($16 billion) payroll tax increase in April, defying pressure from rank-and-file Conservative MPs.
Some Tory lawmakers have demanded the 1.25 percentage point increase in national insurance contributions from April be scrapped given the nation’s cost of living squeeze -- in particular a pending spike in household energy costs.