New figures released by Reading Labour reveal that families in Reading are facing a £24.9 million National Insurance Contributions [NICs] hike thanks to the latest Tory tax rise. Under the Conservatives’ plans to raise National Insurance this April, the average employee in Reading will pay an extra £348 in NICs alone.
The increase pushes taxes up to a 70-year high – and comes at a time when energy bills are set to rise by almost £700 and inflation is at a 30-year high.
Publishing the figures, Labour’s Cllr Jason Brock, Leader of Reading Borough Council, said:
“Families in our town are facing a cost of living crisis. Yet, incredibly, instead of helping people to get by, the Conservatives are making things worse by raising National Insurance at the worst possible time.
“Energy prices are soaring, inflation is the highest it’s been in decades, and families are struggling to make ends meet. This government will write-off billions in fraud and waste, but when it comes to the people of Reading, the Conservatives tell us they need a £24.9 million tax hike.
“The truth is that the Conservative government is failing at the basics. With energy bills soaring, they force families to take a loan. And with the cost of living crisis deepening, they force workers and businesses to pay higher taxes.
“This is hurting families in Reading. Although the Council has been able to support those on lower incomes with energy and food costs last winter, and we’ve enhanced our Council Tax Support Scheme this year, we’re at the limit with the finances we have. Nationally, Labour would scrap the National Insurance tax hike and offer families real support with their energy bills – it’s a terrible shame this government is too wilfully ignorant to do the same.”