Rishi Sunak is to promise a further 2p National Insurance (NI) cut as the Conservatives launch their party manifesto later today.
The Prime Minister will say his party will help working people "keep the money that you earn", while claiming Labour will instead do "what socialists always do - take more of your money".
The full content of the manifesto has yet to be released by Mr Sunak insists the included tax cuts will be "fully funded and costed".
The NI reduction is understood to be another step to scrapping the tax completely when it is "financially responsible" to do so.
Should the Tories maintain power and go ahead with the cut, it would be the third time the rate has dropped under Mr Sunak.
The PM will hope today's launch will put an end to a torrid few days for him after rumours surfaced that he considered quitting in the wake of backlash he received over leaving D-Day commemorations last week.
Labour say the Conservative Party's manifesto boasts a series of "unfunded commitments", adding that it amounts to "the most expensive panic attack in history".
But the Prime Minister is expected to hit back at Sir Keir Starmer's party later today, saying: "We Conservatives have a plan to give you financial security. We will enable working people to keep more of the money you earn because you have earned it and have the right to choose what to spend it on.
"Keir Starmer takes a very different view. He says he's a socialist, and we know what socialists always do: take more of your money.
"We are the party of Margaret Thatcher and Nigel Lawson, a party, unlike Labour, that believes in sound money.
"In this party, we believe that it is morally right that those who can work do work, and that hard work is rewarded with people being able to keep more of their own money. We will ensure that we have lower welfare so we can lower taxes."