Lib Dems to make further cuts in Income Tax and reduce National Insurance for millions of workers

August 15, 2014 3:03 PM

ProfileJenny Willott, the Liberal Democrat MP, for Cardiff Central, has welcomed the news that a Liberal Democrat government would make further cuts in Income Tax and reduce National Insurance for millions of workers.

The Liberal Democrats have made raising the personal tax allowance to £12,500, and subsequently cutting National Insurance contribution, a manifesto commitment.

Increasing the personal tax allowance would benefit 30million workers and 6million pensioners. When the increase is made, the Liberal Democrats would work towards raising the level when people start paying employee National Insurance.

Commenting, Jenny Willott MP, said:

"Cutting income tax for people on low and middle incomes is a priority for the Liberal Democrats. It was in our manifesto in 2010 and we have delivered in Government. As a result, 31,140 people in Cardiff Central have seen their income tax cut and more money in their pocket.

"By April next year we will have cut the taxes of over 26 million people across the UK by £800 a year for a typical basic-rate taxpayer. We've also taken over 3 million people out of paying tax altogether.

"We now want to go even further and ensure people pay no income tax until they earn £12,500. This will take hundreds of thousands more low earners out of paying tax and give millions of people a further tax cut of £400.

"This proves that the Lib Dems are committed to cutting taxes for people in Cardiff and across the UK. We want to build a fairer tax system that rewards work and allows everyone to get on."

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