Pledge comes as race to become the next UK prime minister hots up
Rishi Sunak, trailing in the race to become the next UK prime minister, committed to reducing personal taxes by 20% within seven years in a move he described as the largest cut to income tax in three decades. Picture: BLOOMBERG
Sunak said he would cut the basic rate to 16 pence per pound from 20 pence- amounting to a 20% tax reduction and drawing accusations from Truss’s camp of “flip flops and U-turns” on the issue. When he was Chancellor of The Exchequer, Sunak announced a one-penny cut to income tax in April 2024. A further 3p reduction would come by the end of the next parliament.
But the Truss campaign appears to be in the ascendancy, with polls of party members putting her clearly ahead. The endorsement of senior Conservatives over the weekend only added to the sense of her pushing ahead. Former leadership candidate, the centrist Tom Tugendhat, endorsed her on Saturday saying her proposed cuts were based on “true Conservative principles.”
A member of Truss’s campaign team, who declined to be named, said the public and Conservative Party members can see through Sunak’s U-turns.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rishi Sunak commits to cutting UK income tax by 20% within seven yearsPledge comes as race to become the next UK prime minister hots up
Read more »
Truss wins another heavyweight endorsement in UK prime minister contestTruss wins another heavyweight endorsement in UK prime minister contest The British leader of the Conservative party Liz Truss, won heavyweight endorsement as voting began in UK prime minister contest on Monday
Read more »
Angry passengers crawled through conveyor belt at UK airport after waiting 90 minutes for luggage | BusinessinsiderFootage on the UK's Dispatches TV show reveals angry airline customers climbing through the conveyor belt and confronting airport baggage handlers. | BISouthAfrica
Read more »
Rishi Sunak commits to cutting UK income tax by 20% within seven yearsPledge comes as race to become the next UK prime minister hots up
Read more »
So far this year, SA's tax income has been stronger than expected | Fin24Despite weaker commodity prices, intensifying load shedding and the KwaZulu-Natal floods, South Africa's tax income so far this fiscal year has been 13% higher than in the same period last year. | Fin24
Read more »
ANC wants a wealth tax to pay for new basic income grant: reportThe leading political party has announced a proposal to use a wealth tax to fund a basic income grant.
Read more »