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

FCA's Rathi addresses Autumn Budget market abuse concerns

FCA's Rathi addresses Autumn Budget market abuse concerns

Pens open letter to Treasury Committee

Isabel Baxter
clock 04 December 2025 • 2 min read
More tax, less shelter: A slow-burn Budget for savers and investors

More tax, less shelter: A slow-burn Budget for savers and investors

'The Budget documents make for sobering reading for those trying to build up their wealth'

Laith Khalaf
clock 04 December 2025 • 3 min read
OBR 'deeply regrets' early release of Budget document

OBR 'deeply regrets' early release of Budget document

Mistaken release of Budget documents forced Richard Hughes' resignation

Linus Uhlig
clock 02 December 2025 • 3 min read