This site is in beta mode while we add the remaining policies. To feedback or help, please get in touch!
In Progress
Tax
Increase the higher tax rate to £50,000

By 2020, we will, as promised, increase the personal allowance to £12,500 and the higher rate to £50,000.

Our Verdict

In income tax, the “higher rate” is set at 40%, and you currently start paying that rate on earnings above £46,350. Raising that threshold to £50,000 would therefore provide a tax cut to those people earning the current £46,350 and above, because more of their salary will stay within the “basic rate” of tax (currently 20%).

So what’s happened so far? In the 2017 Budget the government announced an increase in the higher rate threshold from £45,000 to £46,350. This came into effect in April 2018. Since then, in the 2018 Autumn budget, it was announced that the threshold for the higher rate will rise to the promised £50,000 in April 2019 – a year earlier than the 2020 deadline the government had set for achieving this.

So although this is pretty much a done deal, we’re marking this policy as ‘in progress’ for now. When the increase to £50,000 takes effect in April 2019 we will mark this promise as ‘done’. Follow this policy for updates.

Useful reading

There's always room for debate

We’re serious about providing clear, up-to-date, non-partisan information. We focus on being consistent and fair in how we track policies, and always explain our reasoning. But there is always room for debate. So if you see it differently, we’d love you to tell us why or submit an edit.

Get involved!

Whether you are for or against this policy or just want to know more, it's never been easier to get involved and have your say. Try these for starters…

Join the discussion On this page, or Twitter, or Facebook. Democracy is better shared!
Follow this policy We'll send you email alerts every time something interesting happens.
Ask your MP Ask your MP to help you support or block this policy - write to them here.
Get the facts Sense about Science and Full Fact are great for evidence and fact checking.
Get ahead! The Simple Politics newsletter breaks it all down for you - before it happens!
Comments