Conservative Manifesto Tax Cuts

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tax cut

Resolution Foundation • Analysis and action on living standards

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Conservative manifesto proposals would mean tax cuts of £170 for a typical employee – but plans rest on £33 billion of spending cuts in order to get debt falling • Resolution Foundation

Summary

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78% Informative

Conservative manifesto proposals would mean tax cuts of 170 for a typical employee.

But plans rest on 33 billion of spending cuts in order to get debt falling 11 June 2024 .

Pledges rely on making 12 billion of welfare cuts that recent history suggests will not be achievable over the next Parliament .

The Foundation ’s distributional analysis of tax cuts in the Conservative Manifesto today includes: the 2p cut in the employee NI rate; the abolition of NI for the self-employed; the restoration of Child Benefit to 700,000 well-off families; and, the increase in the Income Tax personal allowance.

It excludes the Stamp Duty cut for first -time buyers.

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English

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