£905 tax cut for people in Eastleigh

Working people in Eastleigh are set to benefit from up to £905 income tax cut by 2018.

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Local MP Mike Thornton has welcomed yet another tax cut for families in Eastleigh.

The Personal Tax Allowance, currently at £10,600 thanks to the Liberal Democrat pledge to raise it at the last General Election in 2010, will increase again to £10,800 in April 2016 and £11,000 in April 2017. This is a big increase from 2010 where the Personal Allowance was just £6,475.

Eastleigh MP Mike Thornton said: “This flagship Lib Dem policy is a real budget boost for working people in Eastleigh.”

“The Lib Dems were the only party to include tax cuts on the front page of their manifesto in 2010 and we delivered on this promise.

“Back in 2010, David Cameron said that this was simply unaffordable, but the Prime Minister has been proved wrong. Local Tories might try and claim credit but their focus has always been on tax cuts for millionaires.”

The Lib Dem party’s 2015 manifesto includes measures to go further with a commitment to raise the tax-free to £12,500 by the end of the next parliament.

Liberal Democrat Chief Secretary to the Treasury Danny Alexander said:

 “Delivering income tax cuts for those on low and middle incomes is, was and will be at the heart of the Lib Dem mission to build both a stronger economy and a fairer society - with opportunity for everyone.”

 

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