Ed Davey has unveiled a plan for a £17bn income tax cut in a speech aimed at shoring up the party’s support among former Conservative voters, but which risked disappointing some Liberal Democrat MPs who want a bolder vision for the party.
Addressing the party’s annual conference in Brighton, the Lib Dem leader said the proposal, which would eventually increase the threshold for paying income tax to £15,000 and raise the level at which people pay the 40p higher rate by about £6,000, would be paid for entirely by increased growth.
