Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what his policy is on raising the higher rate threshold for tax to £50,000 by 2020.

We have committed to raising the higher rate threshold to £50,000 and the path to meeting this commitment will be set out, funded and legislated for at future fiscal events.

This April, the government took a significant step towards meeting this commitment; the higher rate threshold has increased from £43,000 to £45,000. A typical higher rate taxpayer will pay over £1,100 less income tax than in 2010-11, and 585,000 individuals will be taken out of the higher rate of tax in 2017-18 – a reduction of more than 10%

This, alongside changes to the personal allowance, has benefitted over 31 million individuals since the start of the last parliament.