Following Rishi Sunak’s resignation as Chancellor, the Daily Telegraph reports on his legacy as the tax burden reaches its highest level since 1949.
The article features comments from Tom Clougherty, CPS Head of Tax, who said the former Chancellor would be remembered for his pandemic support for families. Changes to Universal Credit and National Insurance thresholds have benefited poorer families, however middle-class voters have seen thresholds frozen and higher tax rates.
He said: “Low earners have certainly benefited from his reforms. But you can also see why there was so much disquiet on Tory backbenchers about the Government’s tax policy – raising taxes for employers and higher earners isn’t exactly Conservative orthodoxy.”
Read the article here.
Date Added: Thursday 7th July 2022