Sunak promises biggest tax cut for 30 years as he bids to overhaul Truss's lead

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Sunak promises biggest tax cut for 30 years as he bids to overhaul Truss's lead
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Sunak pledges the biggest income tax cut since Thatcher - but Truss's campaign mocks him for promising it in up to seven years' time

The former chancellor said he will slash the basic rate of income tax from 20% to 16% if he wins the keys to No10 – leaving millions of households paying a fifth less.

"What I'm putting to people today is a vision to deliver the biggest income tax cut since Margaret Thatcher's government," Mr Sunak said. However, Simon Clarke, the Truss-backing Chief Secretary to the Treasury, hit back: "Liz will cut taxes in seven weeks, not seven years."A Truss campaign source added: "It's only a shame he didn't do this as Chancellor when he repeatedly raised taxes.

"We need a 'booster' attitude to the economy, not a 'doomster' one, in order to address cost-of-living woes and the challenges on the world stage."Liz will overturn the stale economic orthodoxy and run our economy in a Conservative way."

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