Monday, March 14, 2011
Action to help low earners
There is more speculation in this morning's Daily Telegraph about what may be in the forthcoming budget with an indication that the coalition government will introduce a further increase in the basic-rate tax threshold next month on top of the previous increase from £6,450 to £7,450.
These increases will take thousands of low-paid workers out of tax altogether, and cut tax bills for many more. The paper understands that it will be funded by freezing or lowering the threshold for higher-rate taxpayers pushing more people into the 40 per cent band.
In his speech to Conference, Nick Clegg told more than 1,000 delegates that the tax changes were proof of the Libeal Democrats' influence in Government.
"We are already shaping government tax policy and will continue to do so in the years to come" he said.
"We will take real steps every year, including in the Budget in 10 days time, towards our goal that nobody earning less than £10,000 pays any income tax at all."
The Liberal Democrat Leader also made the point that tabuse of the expenses system by MPs will continue if people do not vote to change the electoral system.
The choice for people in the referendum on May 5 was simple, he said: "If you want more duck houses: vote no. If you want more democracy: vote yes."
Could not have put it better myself.
These increases will take thousands of low-paid workers out of tax altogether, and cut tax bills for many more. The paper understands that it will be funded by freezing or lowering the threshold for higher-rate taxpayers pushing more people into the 40 per cent band.
In his speech to Conference, Nick Clegg told more than 1,000 delegates that the tax changes were proof of the Libeal Democrats' influence in Government.
"We are already shaping government tax policy and will continue to do so in the years to come" he said.
"We will take real steps every year, including in the Budget in 10 days time, towards our goal that nobody earning less than £10,000 pays any income tax at all."
The Liberal Democrat Leader also made the point that tabuse of the expenses system by MPs will continue if people do not vote to change the electoral system.
The choice for people in the referendum on May 5 was simple, he said: "If you want more duck houses: vote no. If you want more democracy: vote yes."
Could not have put it better myself.
Comments:
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"with an indication that the coalition government will introduce a further increase in the basic-rate tax threshold from £6,450 to £7,450 next month."
That's not speculation - that is happening - I have a 2011-2012 PAYE coding notice saying so
That's not speculation - that is happening - I have a 2011-2012 PAYE coding notice saying so
# posted by 
: 11:14 AM
: 11:14 AM
The piece actually says in the second paragraph "Under plans announced by the Coalition last June the threshold is already due to rise from £6,450 to £7,450 next month. "
So hardly speculation, and we already know that the aim is to raise it to £10,000 by the end of the parliament.
At least that's one pledge you have stuck to.
Steve
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So hardly speculation, and we already know that the aim is to raise it to £10,000 by the end of the parliament.
At least that's one pledge you have stuck to.
Steve
# posted by : 8:50 AM
: 8:50 AM
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