Philip Hammond 'poised To Launch Budget Raid On Income Tax' To Fund Pm's £20bn Boost For NHS telegraph.co.uk

Philip Hammond could ditch a Conservative Party manifesto commitment to raise the income tax threshold as he seeks the cash to fund Theresa May’s £20billion NHS funding pledge.

The Tories vowed at the 2017 general election to increase the personal allowance – the amount of income a person can earn before paying tax – to £12,500 and the higher rate to £50,000 by 2020.