KEEPING OUR PROMISES ON INCOME TAX

£700 Tax Cut Promised, £800 Delivered

The Budget last week confirmed victory for the Liberal Democrats in our campaign to deliver an £800 tax cut for people on low and middle incomes. Cutting income tax by £700 - by raising the tax-free allowance to £10,000 - was the top priority on the front page of the Liberal Democrat manifesto. That comes into effect from April and the Budget has confirmed that the Liberal Democrats have now been able to go even further. The tax-free threshold will rise to £10,500 next year, giving a tax cut of £800 for 25 million working people since 2010. Our manifesto pledge to take the poorest out of tax and give millions of low-earners a tax cut is making Britain a fairer place. I want us to go even further after the General Election - with the goal that you do not pay Income Tax until you earn more than the minimum wage. You can read more about the announcements in the Budget, here. Thanks to Stephen Williams MP for this item from his newsletter.