‘Disciplined on spending’ Rishi Sunak plans to slash income tax by 2p before next election

‘Disciplined on spending’ Rishi Sunak plans to slash income tax by 2p before next election

Business, Economy

12/4/2021 7:26:00 AM

‘Disciplined on spending’ Rishi Sunak plans to slash income tax by 2p before next election

RISHI SUNAK is reportedly planning to slash income tax by 2p in the pound before the next general election in a bid to end his reputation as a 'high income' chancellor.

Related articlesBiden blasted for Brexit meddling as relationship hits 'all-time low'TrendingAlthough his preferred plan is to cut income tax over the next three years, Mr Sunak has reportedly asked that ten options be drawn up.Three of the tax-cutting options - income tax, VAT and inheritance tax - are purportedly being drawn up in more detail

Is It Real? When Everyone Looked At The Photo They Worried

The plans come after the Chancellor previously promised that “actions speak louder than words” and urged the public to trust that he would deliver the tax cuts before the next election in 2024.Both Mr Sunak and the Prime Minister are keen to cut back on tax, with the Chancellor previously stating in his budget that it was his “mission” to slash taxes and Mr Johnson making clear he wishes to be a tax-cutting premier.

Rishi Sunak is reportedly planning to slash income tax by 2p in the pound(Image: Getty Images)Mr Sunak has reportedly asked that ten options be drawn up(Image: Getty Images)A Treasury source told The Times that in order for the Government to deliver its tax cutting promises, it must be “disciplined on spending.” headtopics.com

They said: “The best way to help people is to let them keep more of their hard-earned money and ensure that work pays.“But things are tight and in order to deliver on our promise to cut taxes, we need to be disciplined on spending.”However, the source added that the plans may be scuppered by a combination of the coronavirus and other “economic headwinds”.

Duke of York’s legal team accused of ‘victim blaming’ by womens’ safety groups

READ MORE: Rishi Sunak said it was his 'mission' to reduce taxes(Image: Getty Images)Under the plans, VAT on green energy could be reduced and basic rate payers could be up to £750 better off each year.The Tories are also reportedly considering scrapping the 45p higher rate of income tax from their 2019 election manifesto.

According to the report, the Treasury is also working on plans to increase the threshold for inheritance tax which has been frozen at £325,000 since 2009. One cabinet minister also told The Times that the Tories needed a “retail policy” on tax.

Read more: Daily Express »

Djokovic leaves Australia after judges uphold visa cancellation and deportation

The tennis star left Australia after losing his final bid to avoid deportation and play in the Australian Open despite being unvaccinated for COVID-19.

Tories hold seat in Old Bexley and Sidcup by-election but with slashed majorityTHE TORIES have HELD their seat in the Old Bexley and Sidcup by-election following the death of an ex-Cabinet minister. Louie French has become the UK’s newest MP and took more than half the … CON still got a 20 point lead over LAB and more than 50 percent of the vote.

Dame Margaret Hodge: Veteran Labour MP to stand down at next electionDame Margaret first became the MP for Barking, in east London, 27 years ago in 1994. USAShocked at these two videos. Special forces with loaded guns outside containers cramped with refugees! This is what's happening in a 'How sarcastic! Refugees are human beings, and shouldn't be treated like canned sardines. USAShocked at these two videos. Special forces with loaded guns outside containers cramped with refugees! This is what's happening in a 'How sarcastic! Refugees are human beings, and shouldn't be treated like canned sardines.

'PM would lose his seat!' Bexley by-election swing could boot Boris Johnson out of powerPRESSURE is mounting on the Prime Minister after a political expert warned the swing in Old Bexley & Sidcup could see Boris Johnson lose his seat if emulated at the next general election.

How Adele and Lizzo bonded over 'good advice' and being 'divas'Singer slash rapper Lizzo has revealed she and Adele shared a special moment the first time they met, bonding over the fact they're both 'supreme divas.'

How Adele and Lizzo bonded over 'good advice' and being 'divas'Singer slash rapper Lizzo has revealed she and Adele shared a special moment the first time they met, bonding over the fact they're both 'supreme divas.'

Old Bexley and Sidcup byelection: Tories retain true-blue seatLouie French becomes MP for the suburban London seat, after a vote that saw the Tories’ majority of nearly 19,000 slashed to just 4,478 For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him tom_fitton2 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️