Conservative Party leadership contenders propose tax cuts for high-earners

Most Britons would gain little, but many affluent conservatives might be about to see their party memberships pay off

THE CONSERVATIVE PARTY’S leadership election is moving beyond Brexit and drug use—to taxes. The leading contenders have unveiled their tax-policy ideas over the last week, with some looking like blatant appeals to the party’s rank-and-file. With nominations for the leadership contest due today, the candidates are keen to boost their support among the party membership, who will have the final say on who becomes the next leader.

According to calculations by Torsten Bell, director of the Resolution Foundation, a think-tank, the average Tory plan would not affect the poorest tenth of British taxpayers. The mean earner would receive a tax break worth just £26 annually. Taxpayers in the top tenth of the distribution would get £2,500.

Mr Johnson’s proposal is particularly good for wealthy retirees, who pay income tax but not payroll taxes.Most Britons would gain little . But many affluent conservatives might be about to see their party memberships pay off.

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