AAT has called on the Tory party leader candidate Boris Johnson to limited his ambition to strongly raise the higher-rate income tax threshold, and warned that there are huge cost implications for the various other spending commitments he made, vital as they may be! The AAT said lifting the 40% rate from £50,000 to £80,000 would cost £9bn to the treasury.
Head of Public policy, Phil Hall, said: “The proposals being put forward by Boris Johnson are very expensive and benefit only the highest 5% of income earners – who are mostly men in London and the South East.”
Another commitment, to deliver an extra 20,000 police officers at an estimated cost of £1.1bn, will also be “tough to implement”, said the AAT.
