Rishi Sunak considers tax cut for five million highest earners
1 year, 2 months ago

Rishi Sunak considers tax cut for five million highest earners

The Telegraph  

Downing Street is considering a tax cut for five million high earners next year to galvanise Tory voters after suffering historic by-election defeats in two “safe” Conservative seats. The threshold for paying the 40 per cent higher rate of income tax could be raised in an effort to plot a path to re-election despite polls predicting a Labour victory. Surveys have been carried out by No 10 to see which tax cut would, in theory, give the party the biggest political pre-election boost, with the 2024 Spring Budget considered the earliest opportunity it could be announced. Move would be significant U-turn Rishi Sunak froze income tax thresholds in 2021 for six years.

Income Tax Tax Cut Tax Threshold  rishi  considers  earners  highest  million  higher  cut  tax  threshold  tory  rate  conservative  significant  income  sunak

History of this topic

Extending income tax threshold freeze in Budget 'will drag another 1.5m pensioners into paying higher or top rate'
2 months ago

Extending income tax threshold freeze in Budget 'will drag another 1.5m pensioners into paying higher or top rate'

Daily Mail  

Another 1.5million pensioners could be dragged into paying higher rates of income tax if Rachel Reeves extends a freeze on thresholds, experts have warned. And they said extending the freeze for another two years could potentially drag 1million to 1.5million extra retirees into higher or additional rate tax brackets between 2023 and 2030. Jon Greer, head of retirement policy at …

Businesses, motorists and pension savers brace for Budget bombshell amid fears Rachel Reeves is plotting biggest EVER tax-raising package
2 months, 1 week ago

Businesses, motorists and pension savers brace for Budget bombshell amid fears Rachel Reeves is plotting biggest EVER tax-raising package

Daily Mail  

Businesses, motorists and pension savers are braced for pain today amid fears Rachel Reeves could deliver one of the biggest ever tax-raising Budgets in a fortnight. Chancellor Rachel Reeves is preparing to unveil an eye-watering £40billion of tax hikes and spending cuts on October 30 Ms Reeves told the meeting that plans to fill what she has branded a '£22billion …

Budget 2024: Low-income individuals likely to get big tax relief, says report
6 months ago

Budget 2024: Low-income individuals likely to get big tax relief, says report

India Today  

The government is considering significant tax cuts for lower-income individuals in the upcoming Budget 2024, marking the first such relief in seven years, reported Bloomberg. Lower tax rates, new tax slabs Salaried taxpayers earning between Rs 5 lakh and Rs 15 lakh annually, currently taxed at rates ranging from 5% to 20% under the new income tax regime, could benefit …

Labour capital gains tax rise speculation grows as top aide likes post
6 months, 1 week ago

Labour capital gains tax rise speculation grows as top aide likes post

The Telegraph  

Laura Trott, the Chief Secretary to the Treasury, said: “Labour think they can hide these secret tax rises until after the election, but we won’t let them get away with it. “Keir Starmer should come clean with the British people.” Labour has repeatedly insisted that it has no plans to raise taxes beyond the targeted raids it has already announced …

Reform are closing gap on Tories as Farage returns to the fray - with new poll revealing Conservative voters 'like a lot' of what he stands for
6 months, 1 week ago

Reform are closing gap on Tories as Farage returns to the fray - with new poll revealing Conservative voters 'like a lot' of what he stands for

Daily Mail  

Nigel Farage's return to the political front line has given his party a four-point boost, according to the latest poll by Lord Ashcroft. The resurgent Right-wing party is now just six points behind with 15 per cent – up from 11 per cent last week when Mr Farage suddenly announced he would stand as a candidate in Clacton, Essex, and …

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears
6 months, 1 week ago

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears

Associated Press  

LONDON — Prime Minister Rishi Sunak on Tuesday implored British voters, and his own party, to throw him a lifeline in the U.K.'s election, pledging to cut taxes and reduce immigration if his Conservative Party is reelected on July 4. With the Conservatives trailing the left-of-center Labour Party in opinion polls, Sunak acknowledged that “people are frustrated with our party …

Sunak doubles down on ‘misleading’ Labour £2,000 tax rise claim
6 months, 1 week ago

Sunak doubles down on ‘misleading’ Labour £2,000 tax rise claim

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “You’ve got a bit of a nerve, haven’t you, having …

Sunak, Starmer trade barbs in UK election debate
6 months, 2 weeks ago

Sunak, Starmer trade barbs in UK election debate

China Daily  

By JONATHAN POWELL in London | China Daily Global | Updated: 2024-06-06 09:12 Conservative Party leader and Prime Minister Rishi Sunak, host Julie Etchingham and Labour Party leader Keir Starmer pose together as ITV hosts the first head-to-head debate of the General Election, in Manchester, Britain, June 4, 2024 in this handout image. In the first head-to-head debate ahead of …

Rishi Sunak’s tax bombshell has blown up in his face
6 months, 2 weeks ago

Rishi Sunak’s tax bombshell has blown up in his face

The Independent  

After last night’s TV debate, relieved Conservatives claimed Rishi Sunak had detonated another “Labour tax bombshell” with his repeated claim that the party’s £38.5bn of unfunded spending commitments would cost every working household £2,000. Sunak’s tax attack captured today’s front-page headlines and it might plant some seeds of doubt about Labour among the wavering Tory voters Starmer wants to win. …

Dramatic Tory party faithful's S.O.S to Rishi Sunak: Give us tax cuts NOW to avoid massive wipeout at the election
6 months, 3 weeks ago

Dramatic Tory party faithful's S.O.S to Rishi Sunak: Give us tax cuts NOW to avoid massive wipeout at the election

Daily Mail  

Rattled Tories have demanded Rishi Sunak cut taxes to 'save the party from oblivion' after the latest polling claimed they are heading for an unprecedented Election defeat. Rattled Tories have demanded Rishi Sunak cut taxes to 'save the party from oblivion' after the latest polling claimed they are heading for an unprecedented Election defeat Popular Conservatism, a Right-wing movement launched …

Rishi Sunak’s unfunded tax cut for pensioners is a desperate attempt to neutralise the threat of Reform UK
6 months, 3 weeks ago

Rishi Sunak’s unfunded tax cut for pensioners is a desperate attempt to neutralise the threat of Reform UK

The Independent  

James Carville, Bill Clinton’s campaign manager, once said: “Whenever I hear a campaign talk about a need to energise its base, that’s a campaign that’s going down the toilet.” If he ever wanted an example of a campaign focused on energising its base, the Conservatives’ election strategy of 2024 is it. It is a small tax cut, worth possibly £300 …

UK Prime Minister Rishi Sunak is betting that calmer economic conditions will get him re-elected
7 months ago

UK Prime Minister Rishi Sunak is betting that calmer economic conditions will get him re-elected

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sunak became prime minister in October 2022, when he replaced …

Nearly two thirds of pensioners will pay income tax in three years because of stealth raid
7 months, 3 weeks ago

Nearly two thirds of pensioners will pay income tax in three years because of stealth raid

The Telegraph  

Almost two thirds of pensioners will be paying income tax in three years because of Jeremy Hunt’s stealth tax raid, analysis has found. Two years, ago the Chancellor said the level at which a person starts to pay income tax would be frozen at £12,570 until 2027-28 – dragging more people into having to pay the tax every year. At …

Stealth tax freeze threatens income of 1.6 million pensioners
8 months, 3 weeks ago

Stealth tax freeze threatens income of 1.6 million pensioners

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Almost two million …

How taxes have soared to a near-record high under Tory rule
9 months, 2 weeks ago

How taxes have soared to a near-record high under Tory rule

The Telegraph  

It means Mr Hunt has by a hair’s breath avoided further headlines about the tax burden being on course to hit a peacetime high, although it will only sit a nudge below the record high of 37.2pc in 1948. Lord Cameron said “one of the proudest things” he had done in government was cutting income taxes for 26 million people …

Fewer than 1 in 5 Tory voters want tax cuts if it means cuts to public spending
10 months ago

Fewer than 1 in 5 Tory voters want tax cuts if it means cuts to public spending

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. In the survey, 64 per cent of voters support keeping taxes as they are or …

Rishi Sunak earned £2.2 million and paid £508,000 in tax, documents show
10 months, 2 weeks ago

Rishi Sunak earned £2.2 million and paid £508,000 in tax, documents show

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rishi Sunak has published his …

Stage Three tax cuts bombshell: Claims Anthony Albanese will radically tweak controversial tax plan - here's what it could mean for you
11 months ago

Stage Three tax cuts bombshell: Claims Anthony Albanese will radically tweak controversial tax plan - here's what it could mean for you

Daily Mail  

Prime Minister Anthony Albanese is reportedly considering a significant overhaul of the promised Stage Three tax cuts, a radio host has claimed. Prime Minister Anthony Albanese is reportedly planning to overhaul the promised Stage Three tax cuts, a radio host has claimed Under the new plans, lower income earners would instead reportedly receive more relief in an attempt to alleviate …

Rishi Sunak tax cuts won’t ease burden, economists warn, as national insurance rate drops
11 months, 2 weeks ago

Rishi Sunak tax cuts won’t ease burden, economists warn, as national insurance rate drops

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. It came as Labour accused Mr Sunak of offering voters a “raw deal”, claiming the …

Jeremy Hunt denies lying about ‘record tax cuts’ claim
1 year, 1 month ago

Jeremy Hunt denies lying about ‘record tax cuts’ claim

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rishi Sunak and Jeremy Hunt were under pressure to deliver …

Britain’s Conservative government pushes tax cuts in hopes of bolstering electoral chances
1 year, 1 month ago

Britain’s Conservative government pushes tax cuts in hopes of bolstering electoral chances

Associated Press  

LONDON — Britain’s Conservative government sought to regain the political initiative Wednesday with a series of tax cuts for businesses and individuals that it hopes will bolster its chances in a national election next year that opinion polls suggest it will lose. Treasury chief Jeremy Hunt said the British economy “had turned a corner,” with inflation and government borrowing down, …

Sunak vows to cut taxes but warns: ‘We can’t do everything at once’
1 year, 1 month ago

Sunak vows to cut taxes but warns: ‘We can’t do everything at once’

The Telegraph  

Rishi Sunak has vowed to cut tax and reward hard work in a speech on the economy ahead of the Autumn Statement. He said he would do so in a “serious, responsible” way and that “we can’t do everything all at once”, while emphasising the need for tax cuts to help boost economic growth and the “supply side” of the …

Sunak resists calls to announce pre-election tax giveaway to boost Tory hopes
1 year, 2 months ago

Sunak resists calls to announce pre-election tax giveaway to boost Tory hopes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. As the Tories gather in …

Economic boost for Sunak - but fresh tax cuts calls erupt
1 year, 2 months ago

Economic boost for Sunak - but fresh tax cuts calls erupt

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Treasury minister Andrew Griffith said they were "not for the moment" when asked about the …

Tax burden to rise by more this parliament than any other during peacetime, IFS says
1 year, 2 months ago

Tax burden to rise by more this parliament than any other during peacetime, IFS says

The Telegraph  

Former prime minister Liz Truss told the Telegraph: “This unprecedentedly high tax burden is one of the reasons that the British economy is stagnating and why we need to cut taxes to help make Britain grow again.” Taxes have soared since the last election as a result of a stealth raid through frozen thresholds and new levies on businesses. Mr …

Sunak’s stealth tax raid sees burden on British households soar by 40pc
1 year, 4 months ago

Sunak’s stealth tax raid sees burden on British households soar by 40pc

The Telegraph  

Rishi Sunak’s stealth tax raid has seen payments to the Exchequer surge by 40pc since the pandemic, Organisation for Economic Cooperation and Development analysis shows. Payments of taxes on earnings and wealth – such as income tax and capital gains tax – were up by 39.2pc in the first quarter of this year compared with the final months of 2019, …

The fall in inflation is a boost for Sunak – but it leaves him no wriggle room
1 year, 5 months ago

The fall in inflation is a boost for Sunak – but it leaves him no wriggle room

The Independent  

Today’s bigger than expected fall in inflation is welcome news, but Rishi Sunak cannot celebrate – for there is a growing recognition among ministers that inflation has blown a hole in his general election strategy. Core inflation, which excludes items such as food and fuel, dropped from 7.1 per cent to 6.9 per cent, though it is still sticky, and …

Rishi Sunak plotting autumn 2024 election ‘after income tax cut’
1 year, 8 months ago

Rishi Sunak plotting autumn 2024 election ‘after income tax cut’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. A senior government source told the newspaper: “It’s all about …

Tax expert questions whether PM’s capital gains tax arrangement should continue
1 year, 9 months ago

Tax expert questions whether PM’s capital gains tax arrangement should continue

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rishi Sunak is benefiting from …

Rishi Sunak made £1.9m last year as PM releases tax returns
1 year, 9 months ago

Rishi Sunak made £1.9m last year as PM releases tax returns

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rishi Sunak has published his long-awaited personal tax returns – revealing …

Business chiefs clamour for action after Bank of England governor gives upbeat verdict on economy
1 year, 11 months ago

Business chiefs clamour for action after Bank of England governor gives upbeat verdict on economy

Daily Mail  

Rishi Sunak faced fresh pressure to cut taxes last night after the Bank of England said Britain had ‘turned a corner’ on inflation. The Prime Minister risked a backlash yesterday by suggesting only ‘idiots’ would not understand why he was refusing to cut taxes when inflation remained high and the public finances were still recovering from Covid spending. The Prime …

Rishi Sunak accused of shielding super-rich by maintaining non-dom tax loophole
2 years, 1 month ago

Rishi Sunak accused of shielding super-rich by maintaining non-dom tax loophole

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Chancellor said on Friday it would be the …

Tories increase taxes, cut spending as recession looms
2 years, 1 month ago

Tories increase taxes, cut spending as recession looms

The Hindu  

The Rishi Sunak government announced a £55 billion “consolidation” package of tax hikes and spending cuts in an attempt to get Britain’s public finances back on track partly to undo the damage caused by former Prime Minister Liz Truss’s September ‘Mini-Budget’, which had startled markets. The ‘Autumn Statement’, which was a response to the soaring cost of living, high energy …

Jeremy 'Scrooge' Hunt warns he will make 'horrible' decisions on tax and spending to save Christmas
2 years, 1 month ago

Jeremy 'Scrooge' Hunt warns he will make 'horrible' decisions on tax and spending to save Christmas

Daily Mail  

Jeremy Hunt warned Britons they are 'all going to be paying a bit more tax' after Thursday as he tries to rescue to the economy. The UK economy shrank by 0.2 per cent in the second quarter of the year, according to the ONS Chancellor Jeremy Hunt is on the hunt for tax as the 45p tax rate set to …

Sunak and Jeremy Hunt 'think the unthinkable' to fill '£60bn' black hole
2 years, 1 month ago

Sunak and Jeremy Hunt 'think the unthinkable' to fill '£60bn' black hole

Daily Mail  

Lowering threshold for top rate or even increasing it from 45p to 50p on table Rishi Sunak looking to raise more money from top earners to help balance books A raid on top earners, 'stealth' hikes for ordinary workers and higher council tax is on the cards as Rishi Sunak and Jeremy Hunt scramble to balance the government's books. There …

UK to raise £40bn in 5 years as Rishi Sunak extends windfall taxes on energy firms
2 years, 1 month ago

UK to raise £40bn in 5 years as Rishi Sunak extends windfall taxes on energy firms

India Today  

British Prime Minister Rishi Sunak and finance minister Jeremy Hunt are planning to extend windfall taxes on oil and gas companies to raise nearly 40 billion pounds over the next five years, a report said. The report comes days after four of the five largest global oil companies altogether reported net income amounting to nearly $50 billion, lifted by tight …

Tory mayor calls for tax rises over spending cuts in Rishi Sunak’s autumn budget
2 years, 1 month ago

Tory mayor calls for tax rises over spending cuts in Rishi Sunak’s autumn budget

The Independent  

The Conservative mayor of the West Midlands has issued a plea to Rishi Sunak and Jeremy Hunt to raise taxes rather than cut public services in their crucial autumn statement next month. He also called on the prime minister and chancellor to defend funding for long-term capital projects like the HS2 rail link, broadband connectivity and skills training, telling BBC …

Rishi Sunak and Jeremy Hunt aim for £50BILLION of public spending cuts and tax rises
2 years, 1 month ago

Rishi Sunak and Jeremy Hunt aim for £50BILLION of public spending cuts and tax rises

Daily Mail  

Rishi Sunak and Jeremy Hunt are aiming for £50billion of public spending cuts and tax rises to help tackle a huge black hole in the nation's finances and to convince markets they can balance the UK's books. Public finances have deteriorated since Rishi Sunak quit as Chancellor earlier this year Mr Hunt, meanwhile, is understood to have spoken with former …

Is UK leader Rishi Sunak too rich to rule in tough times?
2 years, 1 month ago

Is UK leader Rishi Sunak too rich to rule in tough times?

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

UK scraps tax cut for wealthy that sparked market turmoil
2 years, 2 months ago

UK scraps tax cut for wealthy that sparked market turmoil

Associated Press  

BIRMINGHAM, England — The U.K. government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows. We have a plan and we need to get on and deliver it.” The turnaround came after a growing …

UK scraps tax cut for wealthy that sparked market turmoil
2 years, 2 months ago

UK scraps tax cut for wealthy that sparked market turmoil

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The British government on Monday dropped plans to cut income tax …

UK drops plans to cut income tax for wealthy that sparked market turmoil
2 years, 2 months ago

UK drops plans to cut income tax for wealthy that sparked market turmoil

Firstpost  

The U-turn came after a growing number of lawmakers from the governing Conservative Party turned on the government tax plans announced 10 days ago Birmingham, England: The British government has dropped plans to cut income tax for top earners, part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows. In …

Reeves: I’ll reverse abolition of 45% income tax rate to fund NHS staffing surge
2 years, 2 months ago

Reeves: I’ll reverse abolition of 45% income tax rate to fund NHS staffing surge

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Ms Reeves said a Labour administration would also implement …

British pound, bonds roiled as tax-cut plans spook investors
2 years, 2 months ago

British pound, bonds roiled as tax-cut plans spook investors

Live Mint  

The selloff in U.K. financial markets accelerated on investors’ worries that the country’s largest tax cuts in decades would spark higher inflation and put government finances at risk. The market turbulence is shaping up as a major challenge for new U.K. Prime Minister Liz Truss, whose government has taken a sharp U-turn on economic policy compared with previous Conservative governments …

Tax cuts that could give high earners nearly £2,000 are ‘fair’, Truss says
2 years, 3 months ago

Tax cuts that could give high earners nearly £2,000 are ‘fair’, Truss says

The Independent  

Liz Truss has described as “fair” tax cuts which could hand nearly £2,000 to high earners, as a former Conservative chancellor warned they would stoke already soaring inflation. Many Tory MPs privately also admit they fear Ms Truss’s plans will exacerbate inflation at a time when experts already predict it could reach as high as 22 per cent. Lord Hammond …

Rishi Sunak May Find it Difficult to Make it To 10 Downing Street: Here’s Why - News18
2 years, 4 months ago

Rishi Sunak May Find it Difficult to Make it To 10 Downing Street: Here’s Why - News18

News 18  

After the resignation of Boris Johnson, the Tory leadership was left wide open for several candidates. As the current membership of the Tory party decides the fate of Rishi Sunak, we need to understand his TV debates, appeals and policies in the context of appeasing and winning over the Tory member base, and not general voters. The Tory member base …

Second survey shows Liz Truss ahead of Rishi Sunak in U.K. PM race
2 years, 4 months ago

Second survey shows Liz Truss ahead of Rishi Sunak in U.K. PM race

The Hindu  

A new survey of members of the governing Conservative Party shows Foreign Secretary Liz Truss is firmly ahead of rival Rishi Sunak in the race to replace Boris Johnson as the British Prime Minister. It is the second poll from Wednesday showing the Cabinet minister widening her lead over the British Indian ex-minister, with an earlier YouGov poll showing Ms. …

Liz Truss ahead of Rishi Sunak in UK PM race in yet another survey
2 years, 4 months ago

Liz Truss ahead of Rishi Sunak in UK PM race in yet another survey

Firstpost  

Rishi Sunak has only 26 per cent support against 58 per cent for Liz Truss - a 32 points lead, according to the survey, while an earlier survey had shown a 31 points lead for Truss London: A new survey of members of the governing Conservative Party shows Foreign Secretary Liz Truss is firmly ahead of rival Rishi Sunak in …

Sunak tries to close the gap on rival in UK leadership race
2 years, 4 months ago

Sunak tries to close the gap on rival in UK leadership race

Associated Press  

LONDON — Rishi Sunak, one of the two contenders to replace British Prime Minister Boris Johnson, on Monday defended his decision to quit the government and help end Johnson’s scandal-tarnished leadership. Allies of Johnson accuse Sunak of treachery for stepping down as U.K. Treasury chief last month as the government floundered amid ethics scandals, with a resignation letter, saying “we …

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