UK's Sunak proposes tax cuts for pensioners in new election pledge

Britain's Prime Minister Rishi Sunak speaks at a Tory party rally at the Amersham and Chiltern Rugby club in Amersham, Britain, May 27, 2024. Alastair Grant/Pool via REUTERS

(Reuters) - British Prime Minister Rishi Sunak on Monday proposed tax cuts for millions of pensioners in his latest campaign pledge, highlighting the importance of older voters in the upcoming July election.

Sunak's Conservative Party said it would introduce a new age-related allowance and deliver a tax cut of around 100 pounds ($128) for each of 8 million pensioners in 2025, rising to almost 300 pounds a year by the end of the next parliament.