Kit Barber explains Restore Britain's tax plan: abolish corporation tax on the first £50,000 of profit, moving 95% of businesses out of the corporate tax system, and raise the basic income tax threshold to £100,000. He then points out the party hasn't said how they'd cover the lost revenue.
Restore Britain has just said it's going to back more UK businesses, it's going to let more people keep more of their hard-earned money, and it's going to reward hard flipping work. They'll abolish corporation tax on the first £50,000 of profits for all companies, and that, believe it or not, is going to take around 95% of business outside of the corporation tax regime entirely. They've also said they're going to extend the 20% basic rate of income tax all the way up to £100,000 English pounds. This means that hard-working Britons are going to keep more of what they earn while business growth, investment, and and the wider economy is all going to get a boost. However, how's that gap actually going to get funded?
