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New £3,000 ‘stealth tax’ to hit 4,500 self-employed in Somerset, say Labour

THE Labour Party has slammed the Government for the effect last week’s Budget will have on self-employed people in Somerset.

Cllr Leigh Redman, Leader of the Labour group on Somerset County Council, said: “Hidden away in the small print of last week’s budget was yet another tax hike for working people – a triple whammy for the self-employed already hit by higher NICs and Conservative plans for higher Council Tax, also revealed in the Autumn Budget.

“More than 12% of self-employed people face a £3,000 tax hike thanks to the reporting change which will cost sole traders more than £1.7bn. In Somerset that’s 4,526 self-employed workers.

“The Conservatives are the party of high tax because they are the party of low growth. It is wrong that 4,526 self-employed workers in Somerset are now facing a triple whammy – higher national insurance, Conservative plans to force council tax up by another 9%, and now a stealth tax worth £3,000. How much more are working people supposed to be able to take?

Stop the Squeeze

“Hard-working families in our county need support to recover but the Conservatives just keep on hammering them with more and more tax. That has to stop – it’s time to ‘Stop The Squeeze’.”

Labour’s Shadow Treasury Minister, Pat McFadden, said: “As well as all the tax rises on income and business the Chancellor has announced in the past six months, buried in the Budget ‘red book’ is a plan for a stealth tax on the self-employed of £1.7bn over the next five years.

“After the past 18 months when many self-employed people have had no help at all and when they are already being hit with other tax rises, why are the self-employed being hit with this extra tax rise which the Chancellor didn’t even mention in his Budget last week?”

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