FTSE falls as Johnson unveils tax rises

Britain's Prime Minister Boris Johnson looks on during a news conference in response to the ongoing situation with the coronavirus disease (COVID-19) pandemic, inside 10 Downing Street, London, Britain, December 19, 2020. REUTERS/Toby Melville/Pool     TPX IMAGES OF THE DAY

UK prime minister Boris Johnson plans to raise national insurance rates by an expected 1.25 percentage points. Photo: Toby Melville/Pool/Reuters

Markets made moves lower on Tuesday in London as an announcement by prime minister Boris Johnson that the UK will implement a tax rise of more than £12bn a year reverberated.

The tax rise will finance a new tranche of spending on health and social care and has been met with a wave of opposition from Conservative MPs. It is the largest tax increase in…


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