Rishi Sunak Pledges Tax Relief in Conservative Manifesto

British Prime Minister Rishi Sunak announced that his Conservative Party's election manifesto aims to reduce the tax burden by around 1 percentage point of economic output annually. This comes as a response to the fiscal challenges posed by the COVID-19 pandemic and a surge in energy prices.

British Prime Minister Rishi Sunak said policy pledges in his Conservative Party's election manifesto on Tuesday would reduce the tax burden by around 1 percentage point of economic output every year compared to forecasts provided at the last budget.

Britain's tax burden has risen to its highest as a share of the economy since just after World War Two as Sunak and finance minister Jeremy Hunt sought to repair the hit to the public finances from the COVID pandemic and an energy price surge.