Prime Minister Rishi Sunak has announced that the upcoming Conservative manifesto will include significant tax cuts. Speaking to the BBC’s Nick Robinson, Sunak stated, “We’re going to keep cutting people’s taxes. You’ll see that in our manifesto tomorrow.”
When questioned about funding these policies, Sunak assured that all initiatives would be “fully funded and costed.” He also emphasized that day-to-day government spending on public services would continue to rise ahead of inflation under a future Tory government. However, he acknowledged that “all governments prioritize within that” when pressed about potential cuts to specific departments.
In the spring Budget, the government announced a 2p tax cut to National Insurance for 27 million workers, following another reduction from last year’s Autumn Statement. The Conservatives have also expressed a long-term goal of abolishing National Insurance when financially feasible.
The manifesto, set to be launched on Tuesday, is expected to pledge the scrapping of stamp duty for first-time buyers of properties costing up to £425,000. However, it is not anticipated to address inheritance tax. Sunak expressed his intention to build on the tax cuts “we have already started to deliver.”