Business
Davey promises tax cuts for millions if UK rejoins EU single market
The Lib Dem leader vows to raise tax thresholds if he becomes PM, in a speech to his party conference.
BBC Business•
The Liberal Democrats will fight the next general election on a promise to cut taxes for millions of workers, Sir Ed Davey has said in a speech to his party conference.
The Lib Dem leader said that if he gained power, he would raise the annual tax-free personal allowance to £15,000.
He would also raise the 40p income tax threshold from £50,270 to £56,000, in a £17bn package funded by the economic boost he says would come from the UK rejoining the EU single market and customs union.
Stuart Adam, of the Institute for Fiscal Studies think tank, told BBC Verify the Lib Dem package would cost "much more" than the £17bn quoted by the party.