Tory leadership contender Rishi Sunak has vowed to slash the basic rate of income tax from 20p to 16p in the pound by the end of the decade, in the latest attempt to revitalise his campaign for No 10.
Boasting of the “biggest income tax cut since Margaret Thatcher’s government”, the former chancellor said the £18bn commitment will be delivered by the end of the next parliament if he wins the contest.
