Cameron Raise Higher Tax Threshold

Cameron Raise Higher Tax Threshold.

David Cameron has said that in his next term he would raise the higher rate tax threshold to £50,000. This is part of his bigger £7 billion tax cutting programme.

At a conference yesterday, Mr Cameron also spoke of plans to up the tax-free allowance from £10,500 to £12,500 by 2020, the two new plans are part of the Conservatives attempt to make themselves seem like a party for everyone. This was alongside other plans for improving the NHS funding and to fight EU immigration.

Mr Cameron said that “Our commitment to you for the next five years we want to cut more of your taxes but we can only do that if we keep on cutting the deficit - this is common sense - tax cuts need to be paid for.”

The Prime Minister also noted that minimum wage increases were already in place and would continue. Labour Leader Ed Miliband has also said that they would look to raise minimum wage to £8 per hour.