Davey pledges £17bn tax cut, £15,000 tax-free allowance

Liberal Democrat leader Ed Davey promised a £17bn income tax cut in a Brighton conference speech. Workers would pay no tax on first £15,000 earned — the tax-free threshold — and the 40p higher rate would start about £6,000 higher. The full plan waits until the final year of a parliament, possibly 2034; limits rise with inflation until then.