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Ed Davey promises £17bn income tax cut if Lib Dems are elected

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    Davey promises tax cuts for millions if UK rejoins EU single market

    The Lib Dem leader vows to raise tax thresholds if he becomes PM, in a speech to his party conference.

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    Ed Davey promises £17bn income tax cut if Lib Dems are elected

    Party leader tells conference growth created by rejoining EU single market and customs union would fund change UK politics live – latest updates Ed Davey has unveiled a plan for a £17bn income tax cut in a speech aimed at shoring up the party’s support among former Conservative voters, but which risked disappointing some Liberal Democrat MPs who want a bolder vision for the party. Addressing the party’s annual conference in Brighton, the Lib Dem leader said the proposal, which would eventually increase the threshold for paying income tax to £15,000 and raise the level at which people pay the 40p higher rate by about £6,000, would be paid for entirely by increased growth. Continue reading...

    The GuardianThe Guardian•Peter Walker and Alexandra Topping