Tories pin election hopes on tax giveaways

Laura Miller
clock

The Conservative party has promised a range of cuts if it wins power in the general election in May.

Unveiling its manifesto, leader David Cameron confirmed his pledge to raise the higher rate income tax threshold - above which earnings are taxed at 40p in the pound - to £50,000 from £42,385. The Conservatives would also take all 30-hour a week workers earning the minimum wage out of income taxation altogether. This would be achieved by raising the personal income tax allowance by £2,000 to £12,500 by 2020, and then enshrining in law that as the minimum wage rises, so too does the personal allowance. The two moves would cost the Treasury £7bn, Cameron said. Third in the Tories'...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Treasury's growth-focused regulatory reform to target four key areas

Treasury's growth-focused regulatory reform to target four key areas

HoL committee meeting

Alex Sebastian
clock 18 March 2026 • 2 min read
Reeves warns 'unwise to speculate' on Iran conflict's impact on UK economy

Reeves warns 'unwise to speculate' on Iran conflict's impact on UK economy

Treasury Committee hearing

Michael Nelson
clock 11 March 2026 • 2 min read
Fahad Hassan: Gulf crisis reshapes inflationary outlook

Fahad Hassan: Gulf crisis reshapes inflationary outlook

'This is an old-fashioned economic shock'

Fahad Hassan
clock 10 March 2026 • 3 min read