Queen’s Speech: Prince Charles addresses House of Lords
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This comes after the Queen’s Speech, delivered earlier today, failed to include tangible plans for new tax cuts. The speech included no pledge to cut VAT, nor did Mr Johnson’s agenda include plans to scrap the hated social care tax. The tax will come into effect in 2023, implemented through a 1.25 percent increase to National Insurance contributions.
In response, the Taxpayers Alliance has called on the Prime Minister to implement the planned income tax cut – set to come into force from 2024 – immediately.
It warned the Government that a pledge to “reform taxes tomorrow won’t help Brits struggling today.”
Meanwhile, the Adam Smith Institute accused Mr Johnson of failing to deliver “immediate solutions to the cost of living crisis”.
Backbench Tory MPs have been putting pressure on the Government to implement tax cuts for weeks.
Speaking to Express.co.uk after the Queen’s Speech was delivered, Veteran Conservative backbencher Peter Bone called on Mr Johnson to “reverse the National Insurance increase”.
Boris Johnson is under pressure to implement tax cuts immediately (Image: Getty)
The Queen’s Speech, delivered earlier today, failed to include tangible plans for new tax cuts (Image: Getty)
The MP for Wellingborough described the tax as a “disincentive for people to take on employees”, as it is paid by both the worker and the employer.
He also called on the Government to cut the rate of VAT on energy, as the cost of fuel continues to rise.
Mr Bone told Express.co.uk: “I think the Chancellor should be looking at all sorts of ways to get the economy to grow and that’s the key.
“Because we need to have the economy growing and more people in work.
“Because if you have more people in work, even if tax rates are lower, you finish up with more tax taken.”
Peter Bone called on Mr Johnson to ‘reverse the National Insurance increase’ (Image: Getty)
Steve Baker told Express.co.uk that the UK ‘desperately needs growth’ (Image: Getty)
He added: “We’ve seen the Queen’s speech today and there’s a lot of talk about legislative bills, but the truth of the matter is that many of these are in the hands of the Chancellor by cutting taxation rates.
“By a whole raft of measures we can get the economy to grow.
“I’m worried that there’s too much concentration on ‘if we stick taxes up we’ll get more money in’.
“Well, the rate of tax is only one element – it’s the size of the economy that dictates how much tax comes in.
“We should be doing what we can to get the economy to grow.”
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Europe’s Cost of Living Crisis (Image: Express)
Meanwhile, former Brexit minister and leading COVID rebel Steve Baker told Express.co.uk that the UK “desperately needs growth”.
He said: “From where we are today, tax cuts will always be welcome. But can the Chancellor balance the books?
“We desperately need growth. And of course that means lower taxes.”
This comes as the country battles a mounting cost of living crisis, with the Bank of England forecasting that the UK will see double-digit inflation and a 1 percent contraction in the size of the economy later this year.
The Government used the speech to highlight a raft of measures that had already been announced, such as a £22 billion package to help with energy bills and future tax cuts.
The PM was accused of failing to deliver ‘immediate solutions’ to the cost of living crisis (Image: Getty)
The speech, delivered by Prince Charles, also promised a “responsible approach to the public finances, reducing debt while reforming and cutting taxes”.
Responding to the Queen’s Speech, John O’Connell, chief executive of the TaxPayers’ Alliance, said: “Welcome promises to roll back regulations, sort out procurement and reform taxes tomorrow won’t help Brits struggling today.
“With the cost of living crisis already crippling families and firms, taxpayers are crying out for immediate action.
“If the government wants to boost growth and help households, they can deliver both right now by bringing forward the planned income tax cut.”
Emily Fielder, from the Adam Smith Institute, added: “What was undeniably missing from the speech was immediate solutions to the cost of living crisis.
“No promises have been made to put pounds in the pockets of those struggling the most, as the Government are too busy cracking down on free speech online.
“Our country needs bold new ideas to pull us out of the doldrums, but this Queen’s Speech merely offers more of the same.”