Martin Horwood backs Lib Dem call to speed up tax break
ommenting on a recent speech by Leader of the Liberal Democrats and Deputy Prime Minister Nick Clegg, who called for the coalition to go ‘further and faster’ in raising the level at which people start paying income tax to £10,000 a year, Cheltenham MP Martin Horwood gave his enthusiastic support to the campaign.
The Liberal Democrat commitment to take everyone earning less than £10,000 a year out of income tax altogether was a manifesto pledge and has been taken on by the coalition. The tax allowance was increased by £1,000 in the 2010 Budget, from £6,475 to £7,475.
A planned rise of an additional £630 has already been announced this year, to take the allowance up to £8,105. This will mean that 1.1 million have been taken out of paying income tax altogether and will reduce the tax burden of millions more low earners.
Martin said:
Martin backs call to speed up tax break
Martin backs call to speed up tax break
“I am very proud that this Liberal Democrat pledge will cut taxes for the lowest earners. Nick Clegg’s call today for this to go faster than originally planned is very welcome and would make a real difference to low and middle income workers who are struggling to make ends meet. The coalition needs to make sure the richest pay their fair share and take every opportunity to lift the tax burden on the least well-off.”
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