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UK political parties commit to freeze VAT rate

Staff Writer |
UK Prime Minister Theresa May said the Conservative Party, if reelected, will not increase value-added tax but refused to commit to a similar freeze on National Insurance contributions and income tax.

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Speaking during an interview with ITV, she said: "We won't be increasing VAT."

She would not commit to keeping income tax and NI at the same level but said: "What I absolutely want to do is to be able to reduce taxes on working families."

Her comments on VAT were made after shadow chancellor for Labour John McDonnell announced the same commitment earlier in the morning.

Last month May withdrew Budget plans to increase NI contributions for the self-employed over accusations that the policy breached a 2015 election manifesto promise by the Party to freeze the three major taxes.

A general election will be held in the UK in June.

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