Davey celebrates increase in income tax threshold
Edward Davey, Liberal Democrat MP for Kingston & Surbiton has celebrated the fact that from this April 5th 2014 (last weekend) Liberal Democrats in Government have delivered on their promise to raise the income tax threshold to £10,000 of their income. This means that no-one pays tax on the first £10,000 they earn, resulting in a tax cut of £700 for 73,500 people in Kingston and Surbiton. Nationally this means 3 million people on the lowest salaries now do not pay income tax.
Edward Davey MP explained that “The Liberal Democrats are the party of fair tax. We put a £700 tax cut for ordinary workers on the front page of our manifesto at the last election and we have now delivered this in Government. We are putting money back into people’s pockets which is so important during these hard times”.
The 2014 Budget announced that the personal allowance will rise to £10,500 in 2015, taking my party’s total tax cut up to £800 since 2010. Edward Davey MP said “The Liberal Democrats have fought to cut taxes right from the start of the coalition, and I’m proud we’ve not only achieved that, but been able to go even further.”
He continued by saying “It is Liberal Democrat policy to continue to increase the threshold in the next Parliament to £12,500”.
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