00:00In the manifesto, we were very clear. It was the rates of income tax, natural insurance and VAT.
00:07But I'm not going to get into semantics. I recognise that we are asking people to contribute more by freezing those allowances.
00:15They were already frozen by the previous government from 2021 to 2028.
00:20And we're freezing them for a further three years.
00:24And I do recognise that I was asking ordinary people to pay a little bit more.
00:28But I've managed to keep that contribution as low as I possibly can by closing loopholes and asking those with the broadest shoulders to pay more.
00:37That's why there will be a surcharge on properties worth more than two million.
00:40It's why we're increasing taxes on savings, dividends and property income.
00:46And it's why as well we're getting a grip of some of the waste and inefficiency in the welfare budget by taking luxury cars out of motability,
00:55more face-to-face assessments for disability benefits.
00:58So we keep that contribution from working people as low as possible.
Comments