-
Former UK Health Secretary suggests taxpayers must pay more to fund social care

The BBC reported, former Health Secretary Jeremy Hunt has said, taxpayers should pay more to help fund social care.
But Mr Hunt, who managed the country's health budget between 2012 and 2018, warned against raising national insurance or income tax.
According to the BBC, the senior Conservative MP said he favoured a new "health and care premium".
The BBC said, newspaper reports have suggested the government is looking at a rise of at least 1% in national insurance rates.
In their 2019 election manifesto, the Conservatives pledged not to increase the rate of income tax, VAT or national insurance.
The BBC mentioned, the Daily Telegraph reports that Downing Street favours a 1% rise in the national insurance rate, affecting about 25 million workers and self-employed people, as well as employers. But it says the Treasury is pushing for a 1.25% increase.

And the Times adds that Health and Social Care Secretary Sajid Javid wants a bigger rise of 2%.
For someone on average earnings of £29,536 a year, a 1% increase in national insurance would cost them £199.68 annually.
The government said it was "committed to bringing forward a long-term plan to reform the social care system".
In a statement, it said proposals would be set out this year.
Read more: UK religious groups handle child sex abuse allegations with ‘blatant hypocrisy’
Writing in the Daily Telegraph, Mr Hunt, who now chairs the Commons health committee, said any tax rise to fund social care would be "a brave step for a Conservative government".
While "uncomfortable" for his party, he said the issue could only be solved through the tax system.
"However, a rise in income tax feels very unconservative after the progress in reducing it during the 1980s, and national insurance disproportionately targets the young," he said.
"Therefore, I personally favour a new health and care premium.
"Given that health spending is going to dwarf all other spending in the years ahead, such a premium would allow an honest debate at every election about the level of funding we want.
Read more: Hurricane Ida sweeps northeast part of US, killing over 40 lives
"It would be separate to a discussion about how much is spent in other departments and would also mean a fairer comparison about the tax burden with countries operating insurance-based systems."
It should be noted that Mr Hunt was health secretary between 2012 and 2018 and also took on responsibility for social care policy for his final six months in the role, when his department was rebranded to cover both health and social care.
That joint department remains in place until this day, with Sajid Javid currently at the helm,
Source: BBC
You May Also Like
Popular Posts
Caricature
BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
opinion
Report
ads
Newsletter
Subscribe to our mailing list to get the new updates!