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Johnson promises 'sensible' tax cuts and spending plans
PRIME Minister Boris Johnson, facing a Dec 12 election, promised £23.5 billion (S$41 billion) worth of "sensible" tax cuts and higher spending which he contrasted with the more radical plans of the opposition Labour Party.
Mr Johnson's Conservative Party said the impact of its tax and spending plans on the government's day-to-day current budget would be close to zero in the period between 2020 and 2024.
The most expensive tax cut measure was a raising of the threshold for paying social security contributions - which was announced by Mr Johnson last week - while the lion's share of the extra spending was on the health service.
"We won't gamble with taxpayers' money or this country's economic future. That is why we have set out clear rules that will keep borrowing and debt under control," Finance Minister Sajid Javid said in a document listing the cost of the measures.
He said Labour was proposing "reckless plans and ideological experiments" which would hit investment in Britain.
The Conservatives' plan to increase day-to-day spending by just over £10 billion over the course of the next four financial years is dwarfed by Labour's £83 billion planned rise. REUTERS