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The Prime Minister announced a 1.25 percentage point increase in National Insurance from April 2022

Boris Johnson has abandoned his pledge not to raise the main rates of tax as he set out plans to pay for reforms to the health and social care system.

In a Commons statement, the Prime Minister announced a 1.25 percentage point increase in National Insurance from April 2022.

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At a glance: 5 key points

He said the additional revenue would pay for the biggest catch-up programme in the history of the NHS in England, with £12 billion a year to help deal with the backlog of cases built up during the pandemic.
It will also cover the reform of the social care system in England, ending what Downing Street described as “unpredictable and catastrophic” care costs faced by many families.
From October 2023, anyone with assets under £20,000 have their care costs fully covered by the state, while those with between £20,000 and £100,000 will be expected to contribute to their costs but will also receive state support.
No-one will have to pay more than £86,000 for care costs in their lifetime.

National Insurance rise: Boris Johnson abandons tax hike pledge to fund health and social care overhaul

At a glance: 5 key points