Cost of Living

Treasury written question – answered on 31st January 2022.

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Photo of Lord Taylor of Warwick Lord Taylor of Warwick Non-affiliated

To ask Her Majesty's Government what plans they have to postpone the health and social care levy to help with the expected increase to the cost of living in spring this year.

Photo of Viscount Younger of Leckie Viscount Younger of Leckie Lord in Waiting (HM Household) (Whip)

The Government is committed to responsible management of the public finances. That is why we have taken the tough but responsible decision to increase taxes in order to fund a significant increase in permanent spending on the NHS and social care.

A levy charged on the National Insurance contributions base is the fairest way to raise the funds needed to support health and social care. The highest earning 15 per cent will pay over half the revenue raised from the Levy and 6.1 million people earning below the Primary Threshold (equivalent to £9,880 in 2022-23) will not pay the Levy.

The Government is providing support worth around £12 billion this financial year and next to help families with the cost of living. We are cutting the Universal Credit taper to make sure work pays, freezing alcohol and fuel duties to keep costs down, and providing support to help households with the costs of essentials.

In addition, the Plan for Jobs is helping people get into work and gain the skills they need to progress – the best approach to managing the cost of living in the long term.

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