Will the REAL Slim-Tax Shady please stand up?

As Conservatives prepare to vote in our next Prime Minister, the key issue is tax cuts.

Rishi has increased the tax burden for families to the highest level it has been in 70 years. This alongside with record inflation has precipitated the current cost of living crisis.

Furthermore, Rishi’s legacy as Chancellor was to introduce a triple whammy with the increase in national insurance by 1.25%, increase in the income tax rate for dividends and a huge 6% increase in corporation tax from 19% to 25% coming in 2023.

This was seen as a betrayal to the Conservative Values to small businesses. These tax increases are viewed as anti-job, anti-small business, anti-start up manifesto breach and will add and will ‘add an extra burden to business’

This strikes at the heart of the Conservative voters and many in the party are already thinking about the next General Election.

Liz Struss on the other hand has pledged to reverse all the proposed tax increases and life the green energy levy on energy bills.

This strategy has struck a cord amongst party members and Liz has forged ahead of Rishi in opinion polls.

Despite Rishi repeatedly stating that he will not cut taxes, he has now performed a U-turn and decided to scrap the 5% VAT charge on domestic energy bills.

This proved too little too late, so he has now promised the biggest tax cut in 30 years by reducing the basic rate of income tax from 20% to just 16% which would increase the average UK salary of £32,000. The catch here is this is promised by the end of the next parliament!

So, Liz promises to reduce tax in 7 weeks while Rishi promises to reduce tax in 7 years.

Who is the real low tax candidate?

Rishi’s credentials as a steady hand on the economy are tainted by his close affiliation to Boris Johnson and the key decision may rest on party members wanting a fresh leader to lead them into the next election.

It is worth pointing out that Liz Truss is a qualified CIMA accountant and a previous Finance Director so more than capable of handling the UK’s economy.

 #election #primeminister #lowtax #neildacosta #kaplan