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Delivered: £700 Income Tax cut

March 25, 2013

The announcement that the Income Tax Personal Allowance will rise to £10,000, confirmed in the Budget, means the Liberal Democrats’ top priority at the 2010 General Election has been delivered in full by the Coalition Government. It means:fairer tax

· A £700 tax cut for 24.5m working people across the UK since the Liberal Democrats came to power.

· 2.7m low paid workers will no longer pay Income Tax at all.

· For the average family, we have cut the Income Tax bill by a third.

· It is enough for a working couple to pay their council tax or combined gas and electricity bills for a year.

· The Coalition commitment to raise the threshold to £10,000 by 2015 will be achieved a year early, in April 2014.

Letting you keep more of the money you earn is a key part of our plan to build a stronger economy in a fairer society, enabling everyone to get on in life.

The £700 tax cut comes alongside more help for working families in the Budget, which confirmed a freeze in fuel duty and £1,200 off the cost of childcare for every child.

Commenting, Liberal Democrat Chief Secretary to the Treasury Danny Alexander said: “When times are as tough as they are now, our focus must be on helping those on low and middle incomes. That’s why we’ve made delivering on this promise our number one priority in Government.”

Amidst a very gloomy economic outlook for the country, this is genuinely good news for low income families in Hastings & Rye.

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