UK's Johnson says Conservatives would raise payroll tax threshold

British Prime Minister Boris Johnson said on Wednesday that his Conservative Party would raise the threshold at which workers start to pay the National Insurance payroll tax to 12,000 pounds ($15,487) a year.

National Insurance is currently payable on earnings over 8,632 pounds a year, and the increase in the starting threshold would bring it in line with income tax.

"We're going to be cutting National Insurance up to 12,000," Johnson said in response to a question at a campaign event ahead of a general election on Dec. 12. ($1 = 0.7748 pounds)