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Rishi Sunak should cut income tax if he wants millennial votes


Sebastian Payne, Onward’s Director, asserts that cutting income tax may convince more millennials to vote Conservative.  He writes:

“General elections are split into the long and short campaigns: the drawn-out shadow slog, where both sides are brawling with each other without really acknowledging it, followed by the formal period when polling day is set and the panoply of rules and restrictions kick in. With Jeremy Hunt announcing the date of the Spring Budget next year — likely the last fiscal event before the 2024 election — much of the wrangling between now and then will be all about tax.

There is scant doubt on the need for action. Even after the Chancellor slashed the main rate of National Insurance (NI) in the Autumn Statement, the overall tax burden is on course to reach a 70-ear high (much of it due to the Covid pandemic spending). The NI cuts will kick in from next week and the next Budget will look to the new financial year in April. So if some fiscal headroom opens up, what options do Sunak and Hunt have?”

Read the full article here.

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