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Nottingham Post
Nottingham Post
National
Annie Gouk & David Whitfield

This is how many people would benefit from higher rate income tax cut if Boris became PM

Just one in every eight people in the East Midlands would benefit from Boris Johnson's plan to cut tax for those earning more than £50,000.

The former foreign secretary has pledged to cut income tax bills for people earning more than £50,000 a year if he succeeds Theresa May as the next prime minister.

He said he would use money currently set aside for a no-deal Brexit to raise the 40% tax rate threshold to £80,000.

It’s a move that would cut income tax bills for more than three million people across the country - but most of them would be in the south.

The latest figures from the HMRC reveal there are around 2.2 million taxpayers in the East Midlands - and just 252,000 of them had an income of between £50,000 and £150,000 in 2018-19.

It means just 12% of workers in our region would benefit from Johnson’s proposal, compared to 20% of people in London.

In the capital, 829,000 people had an income of between £50,000 and £150,000 in the last year.

The city was followed by the South East (18% of taxpayers) and the East of England (16%).

John McDonnell MP, Shadow Chancellor, said: “With our schools, care for the elderly and our police services at breaking point, Boris Johnson’s proposals to give a tax cut to high earners reveals how out of touch the Tories are.

“As predicted the Tory leadership contest is becoming a race to the bottom in tax cuts.”

“Labour will put the responsibility for repairing our public services on the Top 5% and corporations, not add to the handouts the Government has already given the richest in society.”

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