Basic rate of income tax to be cut to 19p by 2024, Rishi Sunak says

Rishi Sunak has pledged to cut the basic rate of income tax from 20 to 19 pence in the pound before the end of the current Parliament.

“It would clearly be irresponsible to meet this ambition this year - and yet I refuse to let that ambition wither and drift,” the chancellor said.

“So, my final announcement today is this: I can confirm, before the end of this Parliament, in 2024, for the first time in 16 years, the basic rate of income tax will be cut from 20 to 19p in the pound.”

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