So much for Tory levelling up…
Damning analysis from the Resolution Foundation has found that benefit and tax changes proposed in the Tory manifesto would leave richer households better off while the poorest would end up losing out.
Yesterday the Tories launched their manifesto, which saw Rishi Sunak pledge a series of tax cuts, including plans to further reduce National Insurance (NI). The PM also pledged to reduce the main rate of NI paid by the self-employed, and abolish it completely by April 2029.
The Prime Minister also said that it was his moral mission to reform the welfare system by slashing £12bn from the benefits bill by the end of the next parliament.
Analysis of benefit and tax cuts promised in the Tory manifesto carried out by the Resolution Foundation found that the richest fifth of households would gain £1,300 while the poorest fifth would lose £250 under the tax cuts and welfare savings proposed.
Basit Mahmood is editor of Left Foot Forward
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