Why is Rishi Sunak raising your Taxes?

Gary Stevenson in this episode of Gary's Economics explains how the Conservative government’s decision to raise national insurance contributions translates into a net pay decrease for many workers. He contrasts national insurance with income tax, noting that NI starts at a lower threshold and is designed with a different progression, which, in his view, makes the burden worse for lower and middle earners while effectively shielding very high earners who rely on wealth rather than wages. The host emphasizes that NI is a tax on work, not on wealth, and argues that the rise disproportionately affects those who depend on earned income rather than asset income. He also connects the NI increase to wealth inequality, pointing to the rich accumulating assets during the pandemic and paying little to no NI as a result. The narrative then broadens to critique the political class, suggesting that leaders and successors often move into corporate roles, which supposedly influences tax policy in ways that favor multi-millionaires and billionaires. The episode closes with a call to action for viewers to engage peers, contact MPs, and push back against policy that they say taxes ordinary people while protecting the ultra-wealthy. The overall conclusion is that the current tax change worsens inequality and that citizens should mobilize to demand a fairer system in the next political cycle.

Topics · economy · politics · public-policy · inequality · taxation · uk-politics · wealth-disparity