Fairer Tax

Since the Liberal Democrats took office in 2010, 3,100 low earners in Guildford have been lifted out of paying income tax altogether and a whopping 53,900 hard-working Guildford residents have had an annual £800 pound tax cut, which from April 2015 increased to £825.  
 
Nationally we have lifted over 3 million people out of paying income tax altogether and we now want to take this further by raising the income tax threshold to £12,500, lifting thousands more low earners out of paying tax and putting even more money back into people's pockets. 
 
As we finish the job of balancing the books, we will clamp down on tax avoidance and use taxes on the wealthiest, on banks and big business and on polluters, to limit the impact of deficit reduction on public services. This will include taxes such as a Mansion Tax on residential properties worth over £2 million.
 
We do not think low and middle income earners should bear the burden of tax rises to tackle the deficit: our plans do not require any increase in the headline rates of Income Tax, National Insurance, VAT or Corporation Tax.
 
Liberal Democrat candidate for Guildford, Kelly-Marie Blundell, says: "In 2010 the Tories said it wasn't possible to raise the income tax threshold to £10,000, we proved them wrong. We fought to honour our manifesto commitment in Government and won and, as of this April, we have over-delivered on it with the increase of the personal tax allowance to £10,600. We will not stop campaigning until it is raised further to £12,500, giving people an extra £400 tax cut." 
 
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  • signed 2015-03-23 09:12:19 +0000