MP welcomes unexpected tax cut for working families
Bradford MP David Ward has welcomed the unexpected announcement made during the Autumn Statement that in April 2013 the income tax allowance will be raised to £9,440.
A higher personal allowance helps to support those on low and middle incomes as well as making work pay by allowing people to keep more of their earned income. As a result of this change, in 2013 someone working full time on the minimum wage will see their Income Tax bill cut in half compared to what they were paying under Labour. This is a total tax cut of £600 a year for more than 20 million people and the changes will take the 2 million lowest paid taxpayers - most of them women - out of paying tax altogether.
Commenting David said:
"Today we have taken another step toward the Liberal Democrats' commitment to raise the amount you can earn without paying tax to £10,000.
This announcement means that by April, 168,200 ordinary working people in Bradford will get a further Income Tax cut, bringing the total tax cut to £600 a year since Liberal Democrats joined the Coalition Government. In Bradford, this welcome news also means that we have lifted 18,630 low-earners out of paying Income Tax all together since the Coalition Government came to power.
"Liberal Democrats want fairer taxes, which is why we made raising the tax-free allowance our number one priority at the General Election - so important that we put it on the front page of our manifesto. When times are tough, with rising bills and wages not keeping pace with inflation, we want to give people real, practical help."