The Lib Dems have promised to raise income taxes to fund the NHS if elected

 
Courtney Goldsmith
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Tim Farron Delivers An Election Campaign Speech At A Housing Charity
Leader of the party Tim Farron said we all need to chip in (Source: Getty)

The Liberal Democrats have pledged to add an immediate 1p rise on all rates of income tax as the first of the party's election manifesto commitments.

The proposed tax hike, which plans to raise an extra £6bn a year that will be ring-fenced to fund the NHS and social care, is the party's flagship spending commitment and its first major policy announcement. The Lib Dems said the money would be introduced to fund vital services until a longer-term solution can be found.

The Lib Dems estimated someone who earns £15,000 would pay an extra £33 a year in tax, whereas someone who makes £250,000 would pay an extra £2,500 a year.

Read more: Could the General Election make the Lib Dems the new opposition?

Tim Farron, leader of the party, said Prime Minister Theresa May doesn't care about the NHS. "People are lying on trolleys in hospital corridors and she has done nothing. The truth is you can't have a strong NHS with a hard Brexit."

We are prepared to be honest with the people and say that we will all need to chip in a little more.

The hike would raise all tax bands by one percentage point, however, it would not apply in Scotland where tax levels are devolved to the Scottish Parliament.

Plans also include a rise of 1p on dividend income taxes for those who hold shares in a company, which would apply across the UK.

The Conservatives argued they are the only major party not raising taxes.

Jane Ellison, financial secretary to the Treasury, said: "Now we know - a vote for anyone other than Theresa May means you will pay more tax. Jeremy Corbyn, the Lib Dems and SNP will hit 30m people in the pocket with higher income taxes.

"Only a vote for Theresa May on 8 June can provide the strong and stable leadership we need to get a good deal in the Brexit negotiations, keep taxes low, and secure our growing economy. It is the only way we can build on the record funding we’ve given the NHS."

Read more: Farron demands an industrial revolution led by a new Green Investment Bank

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