Rishi Sunak considers tax cut for top earners after byelection defeats
Rishi Sunak considers tax cut for top earners after byelection defeats
Tories may also reduce stamp duty in bid to win back voters and reduce pressure on PM, reports say
Tories may also reduce stamp duty in bid to win back voters and reduce pressure on PM, reports say
Why is it that you never see the headline "X considers tax cut for bottom earners"?
I’m pretty sure I saw that headline, with X = Obama or Elizabeth Warren or someone. Then it got shot down because… Idunno, they probably would have blown it all on rent and food and car repairs instead of Job Creation.
Yes those rich people care about job creation for people.
In the UK - that was a Liberal Democrat policy going into the 2010 election that was then implemented during the Coalition government. They increased the tax-free personal allowance, which effectively took two million of the lowest paid out of paying income tax altogether. It was hugely popular, and so the Tories later tried to claim credit for it even though it was literally something the Lib Dems forced onto them at the expense of some of the tax cuts for the rich that the Tories had wanted...
Lib Dems bad though! Student fees!
The bottom must apply pressure
Well it's called treacle down, not treacle up. Look it up sweetie! /s
Molasses economics 101 /s
The only idea conservatives have. Or at least the only one they will say publicly.
Even thicko tories know, there’s not enough votes in this to move the needle.
Trying to stem the loss of votes by screwing over those that wouldn't vote for them anyway and lining their own pockets on the way out.
This is the best summary I could come up with:
Rishi Sunak is considering a tax cut for the 5 million highest earners and reducing stamp duty in an attempt to ease the pressure on his leadership after two historic byelection defeats, it has been reported.
The Conservatives may raise the 40% income tax threshold after Labour’s victory in Mid Bedfordshire, Nadine Dorries’ former seat.
The Daily Telegraph reported that surveys have been carried out by Downing Street to ascertain which tax reduction could give the party the biggest political pre-election boost with the 2024 spring budget considered the earliest it could be announced.
The Conservatives are also planning to reduce stamp duty for their general election manifesto next year if the economy has strengthened, the Times reported.
A senior Tory told the Times that reducing stamp duty would be “aspirational” and improve the economy in addition to attracting middle-class voters who had left the party.
Official figures showed that public sector net borrowing was £14.3bn last month, lower than the £20.5bn that had been forecast by the Office for Budget Responsibility.
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