Rishi Sunak Vows 20% Cut to UK Income Tax Within Seven Years
- Tax pledge comes at critical moment in Tory leadership race
- Liz Truss’s campaign in ascendancy with key endorsements
Rishi Sunak, former UK chancellor of the exchequer, answers questions from party members in the audience during the first Conservative Party leadership hustings in Leeds, UK, on Thursday, July 28, 2022.
Photographer: Anthony Devlin/BloombergRishi Sunak, trailing in the race to become the next UK prime minister, committed to reducing personal taxes by 20% within seven years in a move he described as the largest cut to income tax in three decades.
The announcement comes at a critical juncture in the race to succeed Boris Johnson. On Monday, the 175,000 Conservative grassroots members receive their postal ballots to elect Sunak or Liz Truss as the party’s next leader and prime minister. They’re both anxious to secure support before the summer vacation starts in earnest, with the winner announced Sept. 5.