Boris Johnson has insisted he is not planning to ease restrictions on bosses’ pay or lift the cap on bankers’ bonuses as millions feel the strain of the cost-of-living crisis. The Prime Minister also said it remains “the plan” to raise corporation tax but sought to attribute the policy to Chancellor Rishi Sunak amid suggestions of a policy rift. A leaked letter seen by the i newspaper showed No 10 chief of staff Steve Barclay presenting a post-Brexit plan to remove pay restrictions on non-executive directors. Chancellor Rishi Sunak plans to raise corporation tax from 19% to 25% in April (House of Commons/PA)Labour leader Sir Keir Starmer accused Mr Johnson of plotting “pay rises for City bankers, pay cuts for district nurses”. Asked if the increase will go ahead, Mr Johnson said: “That’s the plan that the Chancellor has set out.

Source: The Times June 23, 2022 22:45 UTC