Pensioners will be given a tax break worth £2.4 billion a year, Rishi Sunak is expected to promise as part of an expansion of the triple lock.
Billed the "triple lock plus," the policy is estimated to cost £2.4 billion a year by 2029/30, a price tag which mirrors Mr Sunak’s proposed national service duty for all 18-year-olds, billed at £2.5 billion a year. The policy follows criticism of Chancellor Jeremy Hunt’s decision to cut national insurance by 2p at the spring budget, after a similar cut in the autumn.While Mr Sunak said the Tories were committed to the triple lock, he claimed Labour would by contrast drag pensioners in receipt of the full state pension “into income tax for the first time in history”.
“This bold action demonstrates we are on the side of pensioners. The alternative is Labour dragging everyone in receipt of the full state pension into income tax for the first time in history.”Starmer says no tax rises needed for new policies when pressed on spending plans
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Pensioners would get a £2.4bn income tax break under the Tories, Sunak to vowThe new ‘triple lock plus’ would ensure pensioners’ tax free allowance rises in line with the highest of earnings, wages or 2.5.
Source: Glasgow_Times - 🏆 76. / 59 Read more »
Pensioners would get a £2.4bn income tax break under the Tories, Sunak to vowThe new ‘triple lock plus’ would ensure pensioners’ tax free allowance rises in line with the highest of earnings, wages or 2.5.
Source: Observer_Owl - 🏆 18. / 72 Read more »