Sunak Proposes £300 Tax Cuts for Pensioners Ahead of July Elections, Sparking Economic Debate

May 29, 2024
Sunak Proposes £300 Tax Cuts for Pensioners Ahead of July Elections, Sparking Economic Debate
  • British Prime Minister Rishi Sunak proposes tax cuts for pensioners, offering up to £300 per year by 2025.

  • The Conservative Party's 'triple lock plus' policy will cost £2.4 billion annually by 2029/30.

  • Funding will come from measures to tackle tax avoidance and evasion.

  • The proposal aims to attract older voters ahead of the July elections.

  • Labour criticizes the proposal as desperate but also pledges to uphold the triple lock policy.

  • Debate arises over the economic credibility and sustainability of pension policies.

  • Polls indicate a potential shift in the 14-year conservative rule, with nearly 50 million Britons voting on July 4th.

Summary based on 3 sources


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Sources

UK’s Sunak proposes tax cuts for pensioners in new election pledge


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