Sunak Proposes £300 Tax Cuts for Pensioners Ahead of July Elections, Sparking Economic Debate
May 29, 2024British 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
South China Morning Post • May 28, 2024
UK’s Sunak proposes tax cuts for pensioners in new election pledgeInvesting.com • May 28, 2024
UK's Sunak proposes tax cuts for pensioners in new election pledge