PRIME Minister candidate Rishi Sunak has set out plans to slash income tax - committing to taking 4p off income tax within seven years.

Cutting the basic rate from 20p in the pound to 16p would amount to a 20 per cent tax reduction, the largest cut to income tax in 30 years.

The former chancellor insists his plan is “consistent” with his record in office and his leadership campaign, which has largely focused on the need to get inflation under control rather than tax cuts, insisting it could be funded by the proceeds of economic growth.

Mr Sunak’s latest announcement has been supported by Salisbury MP John Glen.

Both were spotted watching the Women’s Euro final last night, July 31, in The Bishop’s Mill in Salisbury, with England defeating Germany 2 – 1.

The pair were joined by Conservative councillors representing the city.

This was part of Mr Sunak’s tour up and down the country, talking to fellow Conservatives in the lead up to electing a new party leader.

Rishi Sunak described the Lionesses’ victory as a “great night”.

He told BBC Radio 4’s Today programme: “I did manage to catch some of the game in a pub in Salisbury actually which was great fun, there were a bunch of young girls there who were the same age as my kids and they were super excited about it which just shows you how it’s captured everyone’s imagination, but great night.”

Asked if it was a Conservative Government’s responsibility to promote women’s football, he added: “Oh gosh absolutely, and I think actually as chancellor I was glad to make sure that we funded our rugby world cup bid as well, because these things have a way of galvanising the nation and that’s an inspiration to lots of youngsters.

“When I was in the pub last night talking to some young girls they were really caught up in it, and hopefully if that means the legacy of this will live on in football pitches and playing fields across the country for years to come, that would be fantastic.”

Following Mr Sunak’s latest announcement, Mr Glen, former economic secretary to the treasury, told Times Radio: “What Rishi has set out today is a radical vision of reducing income tax through the next Parliament based on growth, growth that can be accounted for.

“We can’t offer unfunded tax cuts at this point given the inflationary risk.”

He added: “It would be much easier for him to court popularity by offering an immediate sugar rush of tax cuts, but I would contend that we can’t afford that, the public finances demonstrate that and we’ve never had inflation like this for 40 years.

“This isn’t the time to be taking those sorts of risks on the hope that it will somehow generate a different outcome.”

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