Spring Statement: Chancellor living in 'Sunakland' says Reeves
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Laura Kuenssberg suggested Chancellor Rishi Sunak “tied his hands tight” with the income tax pledge he made in his Spring Statement on Wednesday. The Chancellor shielded lower earners from the impact of the forthcoming national insurance hike, promising to cut income tax by 1p in 2024. Britain will also raise the amount of earnings exempt from social security tax payments by 3,000 pounds to 12,570 pounds in July, the same threshold as income tax.
Ms Kuenssberg told BBC Politics Live: “I think today, no question it will keep quite a lot of people in the Tory party happy.
“Because there’ll be able to say look, we’re cutting income tax.
“Big caveat. He’s promising to cut income tax in two years’ time
“I have to say I’ve never seen a Chancellor tie, not just his own or potentially successors, or a whole party’s election campaigns…have their hands tied at this stage in the cycle.”
MORE TO FOLLOW…
Source: Read Full Article