Politics
Ed Davey pledges £17bn income tax cut funded by EU single market return
September 22, 2026 at 04:27 PM · Updated 24d ago
Coverage
3 reports · over 6 hours
BNBBC News
Lib Dems leave conference buoyed by Davey's message
(opens the publisher’s site)
BNBBC News
Ed Davey promises tax cuts for millions if UK rejoins EU single market
(opens the publisher’s site)
TGThe Guardian
Ed Davey promises £17bn income tax cut if Lib Dems are elected
(opens the publisher’s site)Ed Davey has pledged a £17bn income tax cut funded by growth he says would follow the UK rejoining the EU single market.
- Davey unveiled the plan in his speech to the Liberal Democrat conference in Brighton, promising to raise the income tax personal allowance to £15,000.
- The plan would raise the 40p threshold to £56,000, taking effect in the fifth year of a Lib Dem government.
- Davey said the cut, funded by growth from rejoining the EU single market and customs union, would save most taxpayers £680.
- Davey contrasted his plan with Reform UK's, saying "their tax cut is paid for through cruelty."
- The Institute for Fiscal Studies criticised the cost of the Liberal Democrat tax cut plan, according to reports from the party's conference in Brighton.