A promise by Rishi Sunak to cut income tax by 1p in 2024 will come “too late” for families struggling with the current cost-of-living squeeze, a Conservative MP has warned.
Richard Drax, the Tory MP for South Dorset, welcomed some of the announcements in the chancellor’s spring statement but called on the Treasury to “go further”.
“I welcome the chancellor’s talk of more tax cuts to come, but in my humble opinion, and certainly for my constituents for the reasons I’ve stated, they will come too late,” he said.
Mr Sunak also slashed fuel duty by 5p and raised the threshold at which workers pay national insurance contributions by £3,000.
But Peter Aldous, the Tory MP for Waveney, said Mr Sunak's failure to provide a real-terms increase to Universal Credit payments would see those "most exposed" to inflationary pressures hit with a further fall in their spending power, "following a decade of real-terms freezes or cuts."
