P521ORACLE 521 Mon 2 Dec C4 1702:31   PLEA FOR N/ CUT IN  TAX THRESH/LDS There should be a cut in the basic rate of tax, but no raising of tax thresholds for the lower pai , says the head of the Institute of Directors. Sir John Hoskyns said taking too many out of the tax net risked much of the electorate voting for high spending knowing they would not pay for it. This would reproduce in the income tax system an abuse already seen in local government rates, he said. Sir John told a meeting in Manchester that it was time to re-estaalish the target of a 25p-in-the-pound basic rate of tax set by Sir Geoffrey Howe. City headlines 500 Newsfile 520