Conservative pledge to cut basic rate of income tax

THE Welsh Conservatives said they would cut the basic rate of income tax if a target of creating 65,000 new jobs is achieved over the next five years.

The party’s manifesto for the next month’s Senedd Election also commits a Tory government in Cardiff Bay to investing £2bn in infrastructure, including a M4 Relief Road south of Newport and upgrading the A55 – the main road artery between North Wales into England.

Leader of the Welsh Conservatives, Andrew RT Davies, yesterday set out what he described as a “national mission” to get the Welsh economy on the road to recovery.

At the heart of the manifesto is the aim of supporting the creation of 65,000 new jobs across the economy over a five-year term.

If the jobs target is achieved the Welsh Conservatives have committed to cutting the basic level of income tax at the back end of the next Senedd term. This would see a reduction of at least 1p in the pound to the basic rate of income tax with a commitment to supporting what it described as “hardworking families.”

The basic rate of tax is currently 20p in the pound.

The Welsh Government has the ability to increase or decrease the three bands of incomes tax at 10%.

Mr Davies said: “Over the past 12 months, the coronavirus crisis has tested our communities and public services beyond recognition, but we’ve seen the very best of Wales when everyone has worked together in the national interest.

“As we move out of lockdown the next big challenge awaits, and we will need to undertake another critical national mission to get the economy on the road to recovery and create new jobs.

“We are currently experiencing the deepest downturn since records began, and evidence shows that Welsh communities could be amongst the worst hit. We urgently need a plan for recovery and for job

“Like Covid, our economic recovery is going to require a truly national effort, and if we are successful in delivering on our commitment of creating 65,000 new jobs it will be down to a true Team Wales approach – with businesses, entrepreneurs, government and the public sector working in unison.

“The Welsh Conservatives have an ambitious plan and will stop at nothing in our drive to create the first business-friendly economy in Wales for a generation and ensure we recover from the pandemic and 22 years of Labour rule.

“After two decades of failure in the halls of Cardiff Bay, Welsh Conservatives will place delivery at the heart of our manifesto and when we meet our commitments, we will ensure hardworking people in Wales benefit with a cut in income tax at the end of the next Senedd.”