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UK’s Rishi Sunak announces election promises

UK’s Rishi Sunak announces election promises

British Prime Minister Rishi Sunak attends a Conservative Party rally, after calling for a general election, in London, Britain, May 22, 2024.

Isabel Infantes | Reuters

LONDON — British Prime Minister Rishi Sunak published his Conservative Party’s official election platform on Tuesday, announcing help for first home buyers and promising further tax cuts.

The pledges come as the Conservatives look set to crush rival Labor in the July 4 general election, while Sunak has personally been repeatedly criticized during the campaign.

Sunak apologized for leaving D-Day commemorations in France early last week and was also accused of misleading the British electorate by claiming Labor would raise taxes by £2,000 ( $2,547) per active household.

On Tuesday, he pledged to cut another 2 pence from National Insurance – a British tax on workers’ income – and reiterated his plan to restore National Service, which would require 18-year-olds to complete a community-based program of 12 months or one year period of military training.

He also said the Tories would seek to halve immigration and then “cut it back every year”, also promising a “help to buy” scheme for first-time property buyers amid the crisis housing in the United Kingdom.

Sunak and Labor leader Keir Starmer both highlight economic growth, the cost of living and taxes in their campaign messages. A Labor victory would mark its first parliamentary majority in 14 years. Polls have for some time pointed towards a Labor victory in the general election after the Conservatives’ ratings fell following a series of scandals during the tenure of former Prime Minister Boris Johnson.

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-Jenni Reid of CNBC contributed to this article.