Aug 17, 2019

Sajid Javid will 'simplify' the tax system in first Budget

EPA Chancellor Sajid Javid has said he wants simplify the tax system ahead of his Budget in the autumn. In his first interview since becoming Chancellor, Mr Javid told the Times he was a "Low tax guy" but said it was important to "Always be thinking about the lowest paid". Mr Javid said he was still thinking about whether changes might be needed to the government's current long term plans of eliminating the deficit by the mid 2020s. In June, Prime Minister Boris Johnson outlined plans to raise the threshold for the higher rate of income tax from the current threshold of £50,000 to £80,000. In response, the Institute for Fiscal Studies said Mr Johnson's tax proposals would cost "Many billions" and benefit the wealthy the most.

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