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Monday, February 10, 2014

Liberal Democrats fighting to help the low paid

Today's Telegraph reports that Nick Clegg has suggested that the starting threshold for income tax could rise above £10,000 at the Budget next month:

In speech to business leaders today Mr Clegg will say that his party “want to keep cutting income tax for ordinary taxpayer."

He will say: “That will be the main item Danny and I push for in the Budget – again. In the next parliament we would raise the personal allowance so that no one pays any income tax on the first £12,500 they earn.

“It’s our flagship policy because it’s how we make work pay, and it's our way of making sure the British people know that this recovery is theirs"

The personal allowance, the threshold at which people begin to pay any income tax on their earnings, has been raised in steps from £6,475 and will reach £10,000 in April next year.  The gradual process is worth a total of £700 a year to around 20 million workers.

Along with the pension guarantee that has seen pensions increase at above inflation sincc 2010, it is a major part of the Liberal Democrats programme, being implemented in government.

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