Philip Hammond has five months to figure out how he is going to fund a £20bn boost for the NHS. Responsibility for how the pledge will be funded has been placed squarely at the chancellor's door, with details pushed back until the Budget in November.Economic growth and a "Brexit dividend" have been touted as two methods, but it is also clear taxpayers will have to pay more.Sky News takes a look at what the Conservatives promised and ruled out doing with tax in their 2017 general election manifesto. … [Read more...] about How could Philip Hammond raise taxes to fund NHS boost?
THE CHANCELLOR will vow to make Brexit Britain the “undisputed” centre of global commerce once we leave the EU. In a rallying cry to the City, Philip Hammond will spell out a new “internationalist approach” that looks beyond Europe and opens London up to finance markets around the world. And he will spell out plans to use new free trade deals and “ground breaking” financial partnerships with different countries to help our biggest banks and institutions. In his Mansion House address, he will say: “Global Britain is not just a strategy for Britain’s economic future, it’s a statement about what kind of people we are. “And about the economy and the society we want to be.” The comments will delight Eurosceptic Tories who have slated the Chancellor for the past 18 months for trying to soften Brexit. rallying call New head of the British Army tells troops to prepare for battle £65 TO STAY IN BRITAIN EU nationals to be … [Read more...] about Philip Hammond set to unveil plans to make Brexit Britain the ‘undisputed’ centre of global commerce
At the beginning of this year a rather irritated chancellor Philip Hammond publicly knocked back demands from Boris Johnson for a "Brexit dividend" for the NHS. Instead of making good on the Vote Leave promise that leaving the EU would result in another £350m a week for the NHS's coffers, the chancellor warned that Britain's economy was suffering due to uncertainty over Brexit.Increases in public spending would have to wait.So imagine his quiet fury this morning as the prime minister announced that the NHS would be getting a post-Brexit the boost, in the form of an additional £20bn-a-year in real terms by 2023/4.That amounts to an annual 3.4% increase from 2019 onwards - and it's been left to Mr Hammond to work out were the money will come from.Politically, Mrs May has little option but to deliver some form of Brexit dividend for the NHS.Whether she supported the claim or not, it is now down to her to deliver the Brexit the public voted for and NHS funding was the … [Read more...] about Chancellor Philip Hammond faces perfect storm over ‘Brexit dividend’ for NHS
PHILIP Hammond is planning to slap an extra £10billion onto Brits’ tax bills to help pay for more NHS spending. The Chancellor is reportedly set to increase taxes to fund a “70th birthday present” for the health service, with the rise in funding which Jeremy Hunt has been pushing for. The Health Secretary wants a real-terms increase of 4 per cent a year, with a new long-term funding settlement too. It comes off the back of a winter crisis in the NHS, with health experts saying it will only get worse, and calculating that it faces an annual £2 billion funding gap by 2022. There have been calls to introduce a dedicated NHS tax, by adding an extra 1p onto National Insurance. Mr Hammond has rejected that, but the Times is reporting that he will be willing to set aside around £10billion to help plug its budget. Allies told the newspaper he was planning a mix of extra borrowing and tax rises through the remainder of this parliament. But this could prove … [Read more...] about Philip Hammond will slap an extra £10bn onto Brits’ tax bills to pay for more NHS spending
BORIS Johnson has launched a scathing attack on Philip Hammond, accusing him of blocking Brexit. The foreign secretary branded the Chancellor's Treasury "the heart of Remain", with Theresa May facing increasing pressure to ditch Hammond. Boris Johnson even said Donald Trump could do a better job, in secret recordings of him speaking at a private dinner event, reported by The Times. He added: "He'd go in bloody hard… There'd be all sorts of breakdowns, all sorts of chaos. "Everyone would think he'd gone mad. But actually you might get somewhere." And Johnson suggested he might quit the Cabinet if May failed to deliver a hard Brexit, saying: "I will be prepared to compromise over time, but I will not compromise over the destination." What Boris Johnson told Tory figures at a private dinner“It [Brexit] will happen and I think it will be irreversible… The risk is that it will not be the one we want and the risk is that we will end up in a sort of anteroom of the EU, … [Read more...] about Boris Johnson launches blistering attack on Philip Hammond as Theresa May faces calls to ditch Brexit blocking chancellor