LIBERAL DEMOCRATS ANNOUNCE PLANS TO CUT INCOME TAX BILLS BY £700
April 20, 2009 2:48 PM
Solihull's MP, Lorely Burt has welcomed today's announcement by Lib Dem Leader Nick Clegg and Treasury Spokesman, Vince Cable to cut Income Tax bills by £700 and create a fairer tax system.
"It is clear that this recession demands a radical overhaul of the British tax system. It remains scandalous that the richest in our country pay a lower share of their wealth in tax than the poorest. We are demanding that both sides of this distorted equation be changed." said Lorely.
"Nick and Vince have renewed our call to close the loopholes exploited by big business and the powerful and wealthy. And today, after working with colleagues in Parliament and across the Party, they have announced that the Liberal Democrats will fight the next General Election with a pledge to cut income tax bills by £700 for people on low and middle incomes.
"Under our plans, Income Tax personal allowance will rise to £10,000, paid for by closing tax loopholes exploited by big businesses and the wealthy. This will mean 4 million of the lowest paid people not paying tax at all, including many earning just the minimum wage.
"This policy marks us out as the only party in British politics dedicated to changing our tax system to make it fairer."
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