Conservative party announces £2.4 billion tax break for pensioners in election move

From Morningstar: 2024-05-28 05:24:00

Rishi Sunak announced a £2.4 billion tax break for pensioners, increasing the income tax personal allowance. Critics, including Labour, called it desperate, while Rachel Reeves promised a pro-growth Treasury. The move aims to regain campaign momentum. Sunak faces criticism over national service plans and the impact on MPs. The new policy will see costs rise to £2.4 billion yearly by 2029/30, funded by tax enforcement. Labour raised economic credibility concerns, while party leader Keir Starmer focused on wooing business leaders. Shadow paymaster general Jonathan Ashworth questioned the Tories’ tax track record. Meanwhile, business figures signed a letter supporting Labour’s economic policies. The Liberal Democrats highlighted unsolved burglaries in Tory-held seats. Nigel Farage campaigned for Reform UK in Dover. Treasury Chief Secretary Laura Trott criticized Labour’s approach to business and union laws. Job losses predicted for Sunak’s MPs. Tax policy would see pensioners’ allowance rise in line with state pension increases. Institute for Fiscal Studies raised concerns about the actual impact of the tax cut for pensioners. Bell Foundation highlighted the benefit for better-off pensioners under Sunak’s plan. Shadow Chancellor Rachel Reeves outlined Labour’s pro-business, pro-worker approach in a speech. SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk



Read more at Morningstar: Tories Pledge £2.4 Billion Tax Break in Election…