So, Rishi Sunak spilled the beans about what's cookin' in the Conservative manifesto. He's all about slashing taxes, and he's not keeping it hush-hush. In an interview with BBC's Nick Robinson, he spilled the tea that tax cuts are a big part of their game plan. And hey, he promised it's all gonna be paid for and accounted for.
The buzz is, the Tories are eyeing some serious tax relief for the working folks. They’ve already dialed down National Insurance by 2p for a whopping 27 million workers, and they're not stopping there. Rumor has it they're eyeing total abolition of National Insurance in the long run. Plus, there's talk of waving goodbye to stamp duty for first-time homebuyers eyeing properties up to £425,000. Sounds like a steal, right?
But hold onto your hats, there’s more! Despite the tax-cut frenzy, both the Tories and Labour are giving a firm "nope" to hiking up income tax, National Insurance, or VAT rates. However, they're freezing income tax thresholds till 2028, which might ruffle a few feathers if you're eyeing a raise.
Now, about the spending game plan. Sunak's got big dreams, from cracking down on tax dodgers to shaking up the welfare system. But the Institute for Fiscal Studies isn't exactly cheering in the bleachers. They reckon pulling off the £12 billion savings the Tories are banking on by 2030 is a long shot.
And what about housing? Sunak admitted it's been a rough ride for hopeful homeowners, but he's got his sights set on making it easier. With reports showing first-time buyers facing the toughest market in 70 years, it’s clear something's gotta give.
Now, let's talk borders. With net migration hitting 745,000 in 2022, Sunak's under fire. But he's quick to defend his record, claiming he's brought in the strictest reforms yet. As for leaving the D-Day commemorations early, he’s playing the apology card, hoping folks will cut him some slack.
Despite the bumpy start, Sunak's feeling optimistic about the journey ahead. He's all about building on the progress made and turning things around. Guess we’ll have to wait and see if he’s got what it takes to seal the deal.
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