Conservative manifesto for General Election 2017: Key points, policies and summary

18 May

Tax

David Cameron’s tax “triple lock”, which guaranteed there would be no rise in national insurance, VAT or income tax, will be scrapped in favour of a general statement of intent to lower tax and simplify the tax system. 

There will be no increase in the level of VAT. 

Income tax

A commitment to raise the tax-free personal allowance to £12,500 by 2020 will stay.

The Tories will also keep a commitment to raise the threshold for the 40p tax rate to £50,000 by 2020.

Pensions

Maintain the triple lock pension guarantee until 2020, then replace it with a double lock – meaning pensions will rise in line with earnings or inflation, whichever is highest.

Tougher punishments for those caught mismanaging pension schemes.

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