Search / 6 results found


British Prime Minister Boris Johnson has won a vote in Parliament for a big tax hike designed to pay for short-term health requirements arising from the coronavirus pandemic, as well as for long-term care needed by Britain’s growing older population. Lawmakers voted Wednesday by 319 to 248 in favor of the 1.25 percentage point increase in national insurance payments made by working-age people. The increase in taxes, which also applies to dividend payments and breaks a key Conservative manifesto pledge, aims to raise 36 billion pounds ($50 billion) over three years for social care and the overstretched National Health Service. 

Health care in retirement is a big-ticket item, estimated to cost hundreds of thousands of dollars. But there are ways to take the reins and keep expenses from spiraling, even before you retire. Health savings accounts can help you save tax-deductible cash toward future medical costs. Finding the right Medicare policy can ensure that your doctors are in network and your medications are covered. Planning for your long-term care needs can help you handle a change in circumstances. And being a savvy health care consumer will help you avoid unnecessary medical bills.

British Prime Minister Boris Johnson plans to fulfill a election promise to grapple with the rocketing cost of the long-term care needed by Britain’s growing older population. He appears set to break another election vow to do it. The pledge was not to raise taxes. Johnson is scheduled to tell Parliament on Tuesday how his Conservative government will raise billions to fund the care millions of Britons need at the end of their lives. He is expected to announce an increase in National Insurance payments made by working-age people to fund care and the broader health service, which has been strained by the coronavirus pandemic. That would break the firm promise in Johnson’s 2019 election platform not to raise personal taxes.

Live Titan Radio Stream