The Conservative leadership contest last year descended into one-upmanship over tax cuts. When Liz Truss set the pace with a long list of promises, the losing Rishi Sunak camp decided to pledge a 1p cut in income tax in April 2024, with a further 3p cut over the next parliament.
But when Sunak moved into No 10 following the debacle of the mini-Budget, those promises were quietly forgotten. Nonetheless, dangling the prospect of tax cuts before the next election has been key to maintaining a semblance of discipline among Conservative backbenchers. A penchant for tax cuts was Sunak’s redeeming feature as a Conservative in the hopeful eyes of some of his MPs.
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