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  1. Who benefits from the rate cuts?

    Reality Check

    The government estimates that 629,000 people in the UK currently pay the top rate of income tax of 45%, for which you have to be earning more than £150,000 a year.

    Abolishing that and having just the higher tax rate of 40% instead will cost an average of about £1.3bn a year for the next two years, rising above £2bn after that. But the change will not apply to top-rate taxpayers in Scotland.

    The cuts to income tax from 20% to 19% should benefit just over 30 million income taxpayers in England, Wales and Northern Ireland.

    The reversal of the 1.25p in the pound increase in National Insurance will impact more people because it applies in Scotland and also applies to employers.

    To get an idea of those benefiting from the reduction in stamp duty in England and Northern Ireland, there were about 1.1 million residential property transactions on which stamp duty was paid in the last year.

  2. How much will all this cost?

    Reality Check

    The government has published estimates for how much these new measures will cost.

    Overall, it estimates that the changes will cost about an extra £12bn this year, £37bn next year and £38bn the year after that.

    What are the biggest contributors to that figure next year?

    • About £14bn comes from reversing the increase in National Insurance
    • £12bn comes from cancelling the planned increase in corporation tax
    • Cutting 1p off the basic rate of income tax costs £5bn in lost tax revenue
  3. Would cutting corporation tax make more money?

    Reality Check

    Liz Truss defended her plan to cancel the rise in corporation tax – due to go up from 19% to 25% next April.

    “The last time we cut corporation tax we attracted more revenue into the Exchequer,” she told MPs.

    Her idea is that reducing the tax on company profits increases economic growth and more revenue comes into the government, even though the tax rate is lower.

    But the economic think-tank the Institute for Fiscal Studies (IFS) has questioned this assumption.

    Tax revenues did indeed rise following a corporation tax rate cut in 2017. But the IFS says there were other factors involved, including the UK's continuing recovery from the financial crisis.

    You can read more about it here.

  4. Johnson's Brexit claim fact-checked

    Reality Check

    In his speech earlier, Boris Johnson paid tribute to the people in his government who’d “got Brexit done” - a claim he’s made many times before.

    In a literal sense, the UK did leave the EU on 31 January 2020.

    But if this slogan implied Brexit would be done and dusted, this has clearly not happened.

    A huge amount remains unresolved, from Northern Ireland to financial services.

    A large number of trade deals have been signed around the world (the vast majority of which simply replace the ones the UK already had as an EU member), but a deal with the US hasn't happened.

    The Office for Budget Responsibility (OBR), which makes economic judgements for the government, predicts that leaving the EU will reduce the UK's imports and exports by about 15% in the long term, with about a 4% hit to productivity.

    Supporters of Brexit say sovereignty has been restored, and unwanted regulations can now be cut.

    You can read about Boris Johnson's other pledges and whether he met them here.

  5. Johnson's 40 new hospitals claim fact-checked

    Reality Check

    In his farewell speech as prime minister Boris Johnson said "we will have 40 more hospitals by the end of the decade”.

    One of his 2019 manifesto pledges was "40 new hospitals over the next 10 years".

    His government’s definition of a new hospital includes new wings of existing hospitals and refurbished hospitals.

    In December 2021, analysis by Reality Check found that of the 40 projects:

    • 22 were rebuilding projects
    • 12 were new wings within existing hospitals
    • three involved rebuilding non-urgent care hospitals
    • three were entirely new hospitals

    When asked for an update, on 7 June 2022, a Department of Health spokesperson told us that one of the 40 hospitals "opened for patients last year and a further six are in construction".

    You can read more about Boris Johnson's pledges as PM and whether he met them here.

  6. How much protection from disconnection?

    Reality Check

    Laura asked Rishi Sunak if people who could not pay their energy bills should be cut off.

    “We have actually protection for these people,” he responded.

    It is relatively unusual to be disconnected, with companies generally installing prepayment meters instead. The meters make customers pay for energy before they use it.

    According to figures from the regulator Ofgem, 21 households had their supply disconnected last year.

    If energy companies want to disconnect the supply of a customer who has not paid a bill after 28 days there are restrictions on that.

    They would need to give the customer a chance to clear their bill through a payment plan and they may need to apply to a court for a warrant to enter the property to disconnect the supply.

    There are also rules preventing certain vulnerable people being disconnected - such as people of state pension age who live alone or people who live with children.

    You can read more about it here.

  7. Does cutting corporation tax increase revenue?

    Reality Check

    Laura asked each of leadership rival guests about how they would handle the economy and plans for tax and spending, should they become prime minister.

    Liz Truss discussed her proposal to cancel the planned increase in corporation tax.

    The tax on company profits is due to rise from 19% to 25% in April 2023 - a plan implemented by her predecessor and rival, former chancellor Rishi Sunak.

    "Last time we cut corporation tax we saw the revenues increase," she said.

    The idea is that keeping taxes low increases economic growth, which means the tax take increases even though the rate is lower.

    The economic think-tank the Institute for Fiscal Studies (IFS) has warned against this assumption saying: "The effect would certainly not be big enough for the tax cut to pay for itself".

    In fact, Laura Kuenssberg put exactly this point to the would-be prime minister.

    The IFS said that the fact that tax revenues had risen in 2019 despite lower headline rates of corporation tax did not provide evidence that cutting rates automatically raised more revenues - with other things going on such as the continuing recovery from the financial crisis.

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