Congratulations @RishiSunak on becoming Chancellor of the Exchequer. You, and your family must be exceptionally proud of your achievements. I can relate to you on some level, we are both of similar ages, and come from similar cultural backgrounds.
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The fact that your Dad was a GP & mum was a Pharmacist, means hopefully you can relate to me as a NHS Consultant on some level. Knowing that we are paid relatively well but work hard for this. And that Doctors often work additional hours (or sessions).
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These additional sessions, means we get paid more, but ultimately it is to deliver patient services. In fact the NHS is reliant on Consultants & GPs doing additional sessions to keep services running. Examples include extra clinics & operating sessions, or managerial roles.
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One of your predecessors @George_Osborne introduced pension tax changes. As an unintended consequence, the tapered annual allowance means that Consultants & GPs are liable for huge tax bills for non-pensionable pay from additional work, including marginal tax rates of >100%.
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These tax rules are fiendishly difficult to fathom. Experts @goldstone_tony & @JosephineCumbo have written extensively on this. It has led Consultants & GPs to have tax bills of £40k, £50k, £60k, and > £80k. Many affected have had to remortgage or take on hefty scheme pays.
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This has had a significant impact. Consultants & GPs have reduced / stopped doing additional sessions; resulting in reduced clinical activity, stopping or not taking on managerial roles, reduced training of students / junior Drs. Some have taken early retirement.
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We all wait with bated breath for the budget on 11th March, hoping for a resolution to the pensions tax nightmare. Apparently this has reduced Consultant "output" by ~10%. A continued delay in sufficient reform would further exacerbate this. Those who retire won't return.
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My future, my Consultant & GP colleagues' future, and most importantly ,the future of 𝐩𝐚𝐭𝐢𝐞𝐧𝐭 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 hinge on your budget. It is imperative you #ScrapTheTaper so we can deliver the services desperately needed. Please do the right thing. Thank you in advance.
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