David Cameron pledges income tax cuts after next election
Prime Minister David Cameron has proposed two major tax cuts, the abolishment of zero-hours contracts and a referendum on European Union membership if the Conservative Party wins the next general election.
In his closing speech at the Tory party conference, the Prime Minister said the 40p threshold would be lifted from £41,900 to £50,000 and the UK's tax-free personal allowance would be raised from £10,500 to £12,500 by the end of the next parliament.
The tax-free initial allowance will rise to £10,500 next April and up to £12,500 by 2020.
Overall, 30m people will benefit, he said. "People working 30 hours a week will not pay any tax."
But this meant that the government will have to make £25bn worth of cuts to public spending during the first two years of the next Parliament in order to fund the tax breaks.
Cameron also said he would abolish zero-hours contracts. "Anyone should be free to take a job," he said.
"But when companies take people on on zero-hours contracts, and stop them working for someone else, that is not a free market. That is a rigged marked."
The Prime Minister's speech also contained strong words about wanting to protect the NHS, pledging that the government "will protect the NHS budget", and clamping down on immigration and the country's relationship with the European Union.
"I will go to Brussells, I will not take 'no' for an answerr and when it comes to free movmement I will get what Britain needs," he said, reiterating his pledge of a referendum on EU membership.