The Reform Party would increase the 40p tax threshold to £70,000, according to draft manifesto which could see seven million people paying no income tax at all.
Richard Tice has unveiled plans to reverse the Prime Minister’s stealth tax and slash both stamp duty and inheritance tax.
The draft manifesto piles pressure on the Chancellor to go further with tax cuts in the spring Budget.
Tice says his party will also reduce corporation tax and calls for tax relief to encourage private education and health care.
As the March 6 Budget approaches, the Tory Party are scrambling for tax cuts.
However, forecasts suggest the Treasury have less money than they hoped – limiting their capacity to cut tax and control debt.
Support for the former Brexit Party has surged according to polls over the last year, with one in 10 voters now saying they will back them.
“The Tories have betrayed us all by raising taxes, wasting money. We must reward the workers and the strivers, not the shirkers and skivers,” Tice told The Telegraph.
Despite growing support, it is unlikely the Reform Party will win a seat due to Britain’s first past the post system.
Tice is expected to announce draft manifesto plans today as he calls on feedback before final policies are locked in.
He said: “Sadly, the UK is in a dire situation and major reforms are urgently needed to save ourselves. I am today setting these out as we launch Our Contract with You at our Spring conference in Doncaster.
“Britain has so much potential. Our country is full of talent and energy. Brexit is the opportunity of a lifetime. Yet weak leadership and failed management has led us to the edge of the precipice.”
More to follow…
