Theresa May: Tory manifesto hints at income tax cuts for low-paid workers
THERESA May hinted of income tax cuts for millions of low-paid workers yesterday.
Theresa May hinted of income tax cuts for millions of low-paid workers yesterday
The Prime Minister insisted she leads the “low-tax party” and did not deny that the Tory manifesto will pledge rises in the personal allowance tax threshold.
The document, to be unveiled tomorrow, is expected to promise to take a swathe of workers out of income tax.
Mrs May was quizzed about her plans for the personal allowance, which is £11,500 a year, during a visit to Stoke-on-Trent.
She said: “I’m going to disappoint you in that I am not setting out the tax plans until you see the manifesto.
“What we’ve done as a Conservative Party is raise the personal allowance.
“We’ve taken about four million people out of paying income tax altogether and by raising the allowance there’s been a cut which, for the basic rate taxpayer, is the equivalent of about £1,000 a year. We are a low-tax party.”
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Further rises in the starting threshold for the 20 per cent basic rate of income tax would continue a policy promised by the Lib Dems at the 2010 election and then adopted by David Cameron’s coalition.
It is about making sure we have got the strong economy
The threshold stood at £6,475 and was repeatedly raised by former chancellor George Osborne.
The 2015 Tory manifesto also promised to raise the threshold for the higher 40 per cent rate of income tax to £50,000 by 2020-21.
Yesterday, Mrs May insisted she was planning to help struggling families.
The threshold stood at £6,475 and was repeatedly raised by former chancellor George Osborne
She said: “Inflation has gone up, it’s partly about what has happened to the currency… but there are things that we can do, like on energy prices.
“Longer term, it is about making sure we have got the strong economy.
“I would like to see higher-paid jobs and more investment.”