(VOVWORLD) - British Prime Minister Rishi Sunak has pledged to cut 21.7 billion USD in taxes to support businesses and homebuyers if he is re-elected in the July 4 general election.
 British Prime Minister Rishi Sunak (Photo: AFP/VNA) |
Launching the Conservative Party manifesto in Northamptonshire, England, on Tuesday, Prime Minister Sunak also pledged to build 1.6 million new homes in England, abolish current rules to unlock urban housing development, and improve infrastructure in residential areas.
He will abolish the stamp duty tax for first-time buyers of properties costing up to 540,000 USD, and provide them with an equity loan of up to 20% of the cost of a new home.
In its election platform, the Conservative Party has pledged to reduce the net migration rate, cap work and family visas, and implement asylum flights to Rwanda.
He also promised to raise military spending to 2.5% of national income by 2030 in addition to mandatory military or civilian national service for 18-year-olds.
The Conservative Party is projected to lose about 223 seats and retain just 140 seats in the House of Common while the Labour Party is projected to win 422 seats, according to the latest report of the market research company YouGov.