Orris Johnson and Rishi Sunak wrote a joint op-ed to describe what they call “the biggest tax cut in a decade” in a unit show on the cost-of-living crisis. Writing in the Sun on Sunday, the Prime Minister and Chancellor said that when the National Insurance cap rises overnight this coming Wednesday from £9,880 to £12,570, it will save 30 million British workers up to £330 a year. They added that the historic tax cut would amount to £6 billion in value and remove 2.2 million people from paying “any national insurance or income tax on their wages”, with “around 70% of British workers” they pay less National Insurance. Mr Johnson and Mr Sunak said the tax cut would remove “2.2 million people from paying any national insurance or income tax” on the earnings (Stephen Rousseau/PA) / PA Wire In the pair’s rare joint op-ed, they outline the billions the government plans to spend to cushion the blow from inflation while also providing relief for council tax bills, fuel levies and energy costs.

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It comes after the Prime Minister denied his government was “complacent” about rising inflation and said the “cost of freedom” was “always worth paying” amid rising costs exacerbated by the Ukraine war. The Prime Minister said there was a “high chance” of fixing unnecessary cost pressures for people and businesses across the UK. Speaking at a news conference at the close of the NATO summit in Madrid on Thursday, Mr Johnson said the “very, very tight labor market” and the difficult “balancing of our energy mix” were adding to inflationary pressures. (Alamy) Fears persist that the cost-of-living crisis could push the UK into recession, defined by two quarters in a row of falling output, as soaring inflation prompts households and businesses to rein in spending. Inflation has already hit a 40-year high of 9.1% and is expected to rise above 11% in the fall. Bank of England Governor Andrew Bailey said on Wednesday that rising inflation will hit Britain harder than any other major economy during the current energy crisis and that output is likely to weaken earlier and more sharply than others. New figures from HM Revenue and Customs showed that around 6.1 million taxpayers are expected to pay tax rates at the top rate of 40% or the additional rate of 45% in 2022/23.