“Labour accused of ‘Retirement Tax’ in showdown with Tories over Pensioners’ Tax Break”
The Tories have accused Labour of supporting a “retirement tax” after they refused to back Rishi Sunak’s proposed tax break of £275 a year for pensioners. However, Labour dismissed the £2.5 billion Conservative pledge to raise the tax-free pension allowance as “a gimmick.”
Pension Potshots and Poll Predictions
In a recent poll by JL Partners, Labour saw a six-point drop since March, putting them at 40 points, but still leading by 12 points ahead of the Tories at 28. The survey pointed to a shift among over-65s as the primary reason for this change.
Bank Holiday Blitz and Policy Promises
Tory strategists are hopeful that their Bank Holiday policy blitz, which includes proposals like the return of National Service and giveaways for older voters, will pay off. They are pushing for more debates between the Prime Minister and his rivals, particularly with Sir Keir Starmer.
Tax Breaks and Manifesto Proposals
Rishi Sunak’s proposed “Triple Lock Plus” cash boost aims to raise the personal tax-free allowance for millions of OAPs, starting from next April. The increase in both the state pension and allowance will be based on the triple lock principle — the highest rate among inflation, earnings, or 2.5%.
Labour’s Stance and Political Pressure
While Labour supports the triple lock, they have not endorsed raising the threshold, potentially causing many OAPs to pay taxes on their pensions. Treasury minister Laura Trott criticized Labour for not matching the commitment to increasing personal tax thresholds, labeling it a new retirement tax.
Campaign Trail and Political Posturing
In response, the Prime Minister highlighted the difference in policies, emphasizing the implications for pensioners under a future Labour government. Rishi Sunak continued his campaign efforts in Stoke-on-Trent and Market Bosworth, showcasing his engagement with voters through activities like playing bowls.
Election Countdown Show
For more political insights and election updates, don’t forget to watch Central Recorder’s new daily Never Mind the Ballots Election Countdown show on their YouTube channel. Every weekday, Sun Political Editor Harry Cole provides the latest news and analysis from the campaign trail.