1 hour agoBy Becky Morton, Political reporterThe Conservative manifesto will include tax cuts, Rishi Sunak has said.The prime minister told the BBC’s Nick Robinson: “We’re going to keep cutting people’s taxes. You’ll see that in our manifesto tomorrow.”Challenged over how he would fund his policies, Mr Sunak said they would all be “fully funded and costed”. He insisted day-to-day government spending on public services would continue to increase ahead of inflation under a future Tory government. But when pressed over whether certain departments would see cuts, he acknowledged “all governments prioritise within that”. In the spring Budget, the government announced a 2p tax cut to National Insurance for 27 million workers – matching another reduction set out in last year’s Autumn Statement.The Conservatives have also said they want to abolish National Insurance completely in the long-term, when it is deemed affordable to do so. The party’s manifesto, which is being launched on Tuesday and will outline what it plans to do if it wins the election, is expected to include a pledge to scrap stamp duty for first-time buyers of properties costing up to £425,000.However, it is not thought to include anything on inheritance tax. Asked if the Tory manifesto would promise more tax cuts, Mr Sunak said he wanted to build on the tax cuts “we have already started to deliver”. Both the Tories and Labour have ruled out any increase to the rate of income tax, National Insurance or VAT. However, both parties have also said income tax thresholds will remain frozen until 2028. This means millions of people will be pulled into a higher tax band if their wages increase. Mr Sunak said his party’s policies would be paid for by clamping down on tax avoidance, which he said would raise £6bn, as well as reforming the welfare system and getting more people into work. However, the independent Institute for Fiscal Studies h …
Article Attribution | Read More at Article Source
[mwai_chat context=”Let’s have a discussion about this article:nn1 hour agoBy Becky Morton, Political reporterThe Conservative manifesto will include tax cuts, Rishi Sunak has said.The prime minister told the BBC’s Nick Robinson: “We’re going to keep cutting people’s taxes. You’ll see that in our manifesto tomorrow.”Challenged over how he would fund his policies, Mr Sunak said they would all be “fully funded and costed”. He insisted day-to-day government spending on public services would continue to increase ahead of inflation under a future Tory government. But when pressed over whether certain departments would see cuts, he acknowledged “all governments prioritise within that”. In the spring Budget, the government announced a 2p tax cut to National Insurance for 27 million workers – matching another reduction set out in last year’s Autumn Statement.The Conservatives have also said they want to abolish National Insurance completely in the long-term, when it is deemed affordable to do so. The party’s manifesto, which is being launched on Tuesday and will outline what it plans to do if it wins the election, is expected to include a pledge to scrap stamp duty for first-time buyers of properties costing up to £425,000.However, it is not thought to include anything on inheritance tax. Asked if the Tory manifesto would promise more tax cuts, Mr Sunak said he wanted to build on the tax cuts “we have already started to deliver”. Both the Tories and Labour have ruled out any increase to the rate of income tax, National Insurance or VAT. However, both parties have also said income tax thresholds will remain frozen until 2028. This means millions of people will be pulled into a higher tax band if their wages increase. Mr Sunak said his party’s policies would be paid for by clamping down on tax avoidance, which he said would raise £6bn, as well as reforming the welfare system and getting more people into work. However, the independent Institute for Fiscal Studies h …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
