General Election 2017: May’s party could raise taxes if they win the election
Theresa May’s party might raise the VAT and other taxes if the win the election. Chancellor Philip Hammond suggested the party’s 2015 manifesto no to hike VAT, income tax or national insurance contributions could be reversed, according to The Mirror.
The Torries’s measure would affect the hardest the poorer families. Only the VAT increase will cost the average family up to £2,500 over the next five-year Parliament.
Labour MP John McDonnell commented the possible increase: “Everyone knows that VAT is the tax Tory Chancellors can’t resist hiking up. It’s the tax bombshell that the Tories are planning for low and middle earners if they are re-elected in June
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So far, Prime Minister Theresa May and her ministers have avoided questions on whether they will increase taxes after Chancellor Philip Hammond said he wants the “flexibility” to do so after the June 8 election.
The 2.5% flat-rate hike considered by the Torries would cost a two-child family at least £450 a year over the next Parliament.
Labour MP Wes Streeting, a member of the Commons treasury committee, added: “A Tory government will hammer families with a VAT rise like every Tory PM has done since 1973.
“They don’t care that it clobbers the poorest hardest, that it hits people on middle incomes struggling to make ends meet, so long as they can keep on cutting taxes for the very wealthiest. Theresa May is the same old Tory Prime Minister with the same old Tory agenda.”
Lib Dem MP Greg Mulholland also said: “The Tories are plotting a tax bombshell on hard-working Brits to pay for their hard Brexit . Hammond must come clean on what taxes he plans to raise before the election.”
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