His Majesty's Revenue and Customs will take approximately 45% of Christian Horner's reported £80million settlement for leaving his role at Red Bull according to analysts at OLBG. The 51-year-old, who was valued a reported £40,000,000 prior to this windfall, will more than double his net worth once taxes have been paid to the state. Fortunately for Horner, he should not have to pay National Insurance as termination payments are not generally considered as earnings.
Although few people seem to have fully grasped this at the time, the 22.6bn boost in last year's budget is being absorbed by inflation, higher national insurance contributions and pay rises including the 22.3% awarded to resident doctors restricting scope for spending elsewhere. The difficulties involved in the ambitious behind-the-scenes reorganisation that Mr Streeting initiated in the spring have also become clearer.
"Introducing VAT on private health provision could provide vital funding for the NHS and social care," Kinnock said. "Ending the VAT exemption to generate much-needed revenue is a reasonable and widely-supported step."
Nigel Farage has called for an end to the NHS being funded through taxes, but refused to say how it would be paid for instead. The Reform UK leader sparked fresh fears that patients would be charged for accessing the health service if he won a general election, arguing the current model does not work.