The British social care system is in crisis. For this, most people can agree.
In 2019, Boris Johnson said he had a plan to regulate social care once and for all and that it did not involve setting up National Insurance. We now know that none of those statements were true.
In addition to his broken promises, Boris Johnson plans to increase National Insurance is deeply unfair to people on lower incomes.
Many people think that NI is the same as income tax, but there are major differences.
The income at which people start paying NI is 3,000 lower than for income tax, so it gets a much larger share of the salaries of those with low incomes.
NI is not paid for certain types of income that, in general, only relatively wealthy people receive, such as stock dividends, interest, property income, and capital gains.
In Boris Johnson’s plans, a minimum wage care worker will now see their salary taken home to fund the person they care for, who may have a large home and have a generous pension, but will not pay any extra pennies.
A landlord who gets all their income from renting properties will not pay more, but young people who rent those properties will see their house rent go down making it less likely that they may ever be able to save to buy their own home in the future.
How can anyone in the Conservative Party consider this to be right?
It is not debatable that taxes should be increased to address social care, but there are much fairer ways to do so.
Raising the income tax would not hurt low-income people as much and would tax other income, such as rent. Capital gains and stock dividends can be taxed at the same level as earned income.
Instead of imposing a tax on jobs offered by firms struggling after Covid, wouldn’t it be better to tax the profits of businesses that aren’t?
Next week I will talk about an even worse problem with Boris Johnson’s plans: despite having accumulated billions of pounds in additional taxes, they will not regulate social care once and for all and may actually make things worse
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