Osborne: Increase the 40p tax threshold to £50,000

 
"We will increase the 40p Income Tax threshold to £50,000."
In an interview with the Daily Mail in April 2015, George Osborne said that one of his party’s “two central tax commitments” is “to increase the threshold at which people pay the 40p rate right up to £50,000.”

Mr Osborne added: “You can be sure that that will be above inflation in each and every year and after five years, we will be at £50,000. I want to see action in each and every year.”

David Cameron reaffirmed this pledge as his launched his party’s 2015 manifesto: “You don’t pay the 40p tax until you’re earning £50,000.”

From the Conservative manifesto: “We will raise the 40p tax threshold much further, so that no one earning less than £50,000 pays the higher rate of Income Tax.”

Sources

The Conservative Party Manifesto 2015 (Conservatives.com)

Only workers earning more than £50,000 will pay 40p tax rate, vows Osborne (Mail Online)

David Cameron speech: Conservative Party manifesto launch (Conservatives.com)

 
 
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