Tax cuts planned by Boris Johnson, the leading candidate to become Britain'...
LONDON - Tax cuts planned by Boris Johnson, the leading candidate to become Britain’s next prime minister, could cost as much as 20 billion pounds a year, according to calculations from the Institute for Fiscal Studies think tank.
Cutting tax on these earnings to 20% from 40% would cost the public finances around 9 billion pounds a year, and benefit the highest-earning 10% of Britons, the IFS said on Tuesday. The IFS said each thousand-pound increase in the NI threshold would cost the government 3 billion pounds a year.
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