'You're no longer the party of low tax': Nick Ferrari blasts Govt using own figures

21 February 2022, 08:37 | Updated: 21 February 2022, 13:53

By Emma Soteriou

LBC's Nick Ferrari has taken small business minister Paul Scully to task using the Government's own figures to slam the Tories' claim that they are 'the party of low taxation'.

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It comes ahead of a planned National Insurance hike in April, with an increase of 1.25 percentage points expected.

It will mean people paying National Insurance at a rate of 12 per cent will soon have to pay it at 13.25 per cent instead.

The Government's own budget watchdog said the planned National Insurance rise will cost firms more than all eight new business taxes introduced over the past decade.

Speaking on Nick Ferrari at Breakfast, Nick argued: "Roughly nine million people in total could be affected and you still pretend that the Conservatives are the party of low tax. You're not.

"We voted for Churchill, but we've got Clement Attlee with Boris Johnson haven't we?

"This is more taxes than the last 10 years, minister!"

Mr Scully said: "We've also, in terms of economic support, given £408 billion pounds, which represents about three times the normal NHS budget that's gone out the door - extra money that we didn't think in the 2019 election would be around the corner with the national pandemic."

"We have to steady the ship and then move back down to what we all want as Conservatives: lower taxes and more personal responsibility, trusting people to keep their own money in their own pocket," he added.

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Earlier, Nick hit out: "Businesses should have no confidence in Conservatives anymore, should they?"

Mr Scully said: "What we're trying to do with the National Insurance levy is two things: first of all, we're trying to spend that money on getting rid of the backlog but also tackling the social care issue, which has been long-standing and unresolved to date."

"The top 15 per cent of all earners will generate around 50 per cent of the revenue that's raised by it," he added.

"Six million low earners won't pay any money at all. About 40 per cent of businesses that have got employer liabilities won't be affected at all."

Nick said: "It's going to hit care home staff!"

But Mr Scully reiterated that six million of the lowest earners will not be affected and that "it's on a progressive measure".

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