Boris Johnson defended his tax hikes today at Conservative party conference, saying even “Margaret Thatcher would not have ignored the meteorite that has just crashed through the public finances.”
Increases to National Insurance announced last month have been criticised by business groups, who point out that firms are already battling increasing energy prices and inflation.
The Prime Minister said that tax cuts would be possible in future once the UK had a “high wage, highly skilled” economy.
He said it was time to move away from the “lever” of unskilled immigration which he alleged had kept wages low.
This is a developing story and will be updated.