(Bloomberg) -- Boris Johnson wants to cut business taxes and raise thresholds for income tax if elected prime minister, the Telegraph says, citing an op-ed by Johnson.
Johnson proposes raising the level at which 40% income tax kicks in to GBP80,000 from GBP50,000
The plan will cost ~GBP9.6b per year, according to the Telegraph, and will be funded by “fiscal headroom” currently set aside by the Treasury
To contact the reporter on this story: Sarah Kopit in New York at skopit@bloomberg.net
To contact the editors responsible for this story: Madeleine Lim at mlim131@bloomberg.net, Tony Czuczka
