Health and Social Care Levy

an image of a small pile of pound coins

Happy Health and Social Care Levy day, the new ‘hypothecated tax’.

The Levy will raise a purported £13.2bn of which £1.8bn will be used to compensate those employed by the public sector leaving £12.2bn to be added to the total spending on health and social care in England [of] approximately £235bn, with the gap covered by some of the other roughly £800bn per year that the government receives from other sources. [The new funding] can be spent on any of the public services or social security that the government funds.

Read this and more in our weekly Wednesday digest here.