Rishi Sunak will on Tuesday announce a £2.4bn tax cut for pensioners, in a move intended to shore up the key Conservative “grey vote” and stabilise the party’s chaotic start to the general election campaign.
The UK prime minister will announce plans to unfreeze the personal allowance for pensioners, in a bid to stop millions of people who receive the basic state pension from being dragged into the tax system.
Sunak said the move would be worth £100 for 8mn pensioners next year, rising to about £300 a year by the end of the next parliament. “This bold action demonstrates we are on the side of pensioners,” he added.
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