More money back in your pocket

Posted in Federal News

Between now and the Budget, Nick Clegg and the Liberal Democrats in Government will be arguing for faster tax cuts for hard-working families, promoting work and growth, and rewarding innovation, paid for by increasing the amount paid by the richest.

And the Liberal Democrats in Coalition are already making the difference:

More than 800,000 working people no longer paying income tax
23 million working people have been given a £200 tax cut
In April this year every worker will be given a further income tax cut of £130
And by the local elections in May this year, 1.1 million of the lowest paid workers, will no longer be burdened by income tax

Under our plan she would see her income tax bill cut to zero making her £700 a year better off.

The Liberal Democrats are committed to delivering a fairer economy, turning our tax promise into cash in your pocket. It was on the front page of our manifesto and is being implemented because of Liberal Democrats in Government.

As part of this Coalition, Liberal Democrats are calling time on our unfair and out-of-whack tax system.

We’ve clamped down on tax avoiders – targeting an extra £7bn every year
We’re taxing the banks by an extra £2.5bn every year
We’ve stopped inheritance tax cuts for millionaires
We’ve put up Capital Gains Tax
We’re ending the scandal, under Labour, of a hedge-fund manager paying less tax on their shares than their cleaner paid on their wages
We’ve reduced tax breaks on pension funds for the super-rich
We have retained the 50p rate
And our overall priority is freeing the lowest-paid from income tax altogether and cutting income tax for millions of ordinary workers

You can read Nick's speech to the resolution Foundation here.