UK Government Rejects Sales Tax on Private Healthcare
The UK has decided against imposing a sales tax on private healthcare, confirmed Health Minister Wes Streeting, despite media speculation ahead of the November 26 budget. Finance Minister Rachel Reeves is expected to increase taxes to address a significant fiscal gap but has committed to not raising VAT or income taxes.
- Country:
- United Kingdom
The British government has decided against introducing a sales tax on private healthcare services, as confirmed by Health Minister Wes Streeting. This decision was made clear amidst media reports suggesting it was under consideration before the upcoming November 26 budget.
Finance Minister Rachel Reeves, facing the challenge of a fiscal gap projected to reach tens of billions of pounds, is expected to raise taxes in the November budget. Despite this, she has reassured the public that there won't be hikes on sales tax, known as value-added tax (VAT), national insurance contributions, or income tax rates, sticking firmly to the Labour Party's manifesto commitments.
Reeves acknowledged that tough decisions lie ahead for the government's budget plan in November.
(With inputs from agencies.)
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- Wes Streeting
- Rachel Reeves
- budget
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- VAT
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