Health and Social Care Levy (Repeal) Bill — New Clause 1 — Review of effects of Act on revenue sources of health and social care expenditure — 11 Oct 2022 at 19:30

“HMRC anticipates increased call volumes and customer contact as a result of the in-year reduction of NICs rates. There will be delivery costs in implementing this policy. IT changes will be required to be delivered at additional cost to HMRC, to support safe delivery of this policy.”

“Costings will be set out in due course.”

“The additional funding used to replace the expected revenue from the Levy will come from general taxation and may require further borrowing in the short-term.”

“because we are also increasing dividends tax rates, we will be asking better-off business owners and investors to make a fair contribution too.”-[Official Report, 7 September 2021; Vol. 700, c. 154.]

“there is little…difference between income and capital gains, and many people effectively have the option of choosing…which to receive. And…it is by no means clear why one should be taxed more heavily than the other.”-[Official Report, 15 March 1988; Vol. 129, c. 1005.]

Debate in Parliament |