Dividend tax hike hits 'entrepreneurial spirit of the nation'

Funding social care reforms

Lauren Mason
clock • 5 min read
Prime Minister Boris Johnson with Chancellor of the Exchequer Rishi Sunak. Picture by Andrew Parsons / No 10 Downing Street
Image:

Prime Minister Boris Johnson with Chancellor of the Exchequer Rishi Sunak. Picture by Andrew Parsons / No 10 Downing Street

Prime Minister Boris Johnson’s announcement that dividend taxes will increase by 1.25% to fund social care reforms has been described as a “last-ditch attempt” to spread the costs across society, with members of the investment industry warning this could have a “huge knock-on effect on the entrepreneurial spirit of the nation”.

This comes shortly after Johnson's address to the House of Commons today (7 September), in which he introduced a new ‘Health and Social Care Levy' which will raise approximately £36bn to be spent a...

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