Boris Johnson the main contender for the Tory leadership has pledged he will cut income tax for those earning more than £50,000 per annum.
Johnson is drawing up plans to raise the 40p income tax threshold to £80,000 costing almost £10bn. He believes the cost of the policy could be met through money set aside for a no-deal Brexit.
Johnson said in his regular Daily Telegraph column, “We should be cutting corporation tax and other business taxes.
“We should be raising thresholds of income tax, so that we help the huge numbers that have been captured in the higher rate by fiscal drag.
“We can go for much greater economic growth – and still be the cleanest, greenest society on earth.”