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UK to raise tax on shareholder profits to pay for social care reforms - The Sun

·1-min read
UK Parliament recalled from summer recess to debate the sitaution in Afghanistan

(Adds missing word from headline)

LONDON (Reuters) - British Prime Minister Boris Johnson will unveil a tax hike on shareholder profits as well as a rise in the cost of national insurance contributions for employers as part of plans to reform how the social care system is funded, The Sun said.

The government will ask workers and firms to pay an extra 1.25% on their national insurance contributors to fund the reforms, the newspaper reported.

"It's not just NICS coming today but a far broader taxation package that will potentially raise billions," The Sun quoted a source as saying.

(Reporting by Guy Faulconbridge and William James; Editing Andrew MacAskill)

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