Lib Dem Manifesto p.18 “We will increase the income tax threshold to £10,000”
In June’s emergency budget, we raised the tax threshold by £1,000, lifting 880,000 low earners out of tax completely. This will increase each year of the coalition government until it reaches £10,000, which will lift
an additional 3 million people out of tax altogether.
Lib Dem Manifesto p.14 “We will tackle tax avoidance and evasion, with new powers for HMRC”
In September, Danny Alexander announced a £900m crackdown on tax avoidance and evasion, expected to raise billions each year by 2014/15 from those who currently avoid paying their fair share of tax.
Lib Dem Manifesto p.14 “We will tax capital gains at the same rates as income, so that all the money you make is taxed in the same way.”
In June’s emergency budget we increased the rate of Capital Gains Tax to 28% for higher rate taxpayers while keeping it at 18% for basic rate taxpayers. This will raise an extra £1bn and end the disgraceful situation of bankers paying a lower rate of tax than their cleaners.
Lib Dem Manifesto p.18 “We will immediately restore the link between the basic state pension and earnings. We will uprate the state pension annually by whichever is the higher of growth in earnings or 2.5%”
The link between pensions and earnings, scrapped by Margaret Thatcher, was restored in the Coalition’s first budget. The annual increase in the state pension will be protected by a ‘triple lock’ -the rise will be in line with earnings, prices or a 2.5% increase, whichever is the greater.
Lib Dem Manifesto p.17 “We will pay down the deficit by saying no to the like-for-like replacement of the Trident nuclear weapons system.”
There will be no like-for-like replacement of Trident this Parliament.
Lib Dem Manifesto p.16 “We will scrap ID cards”
We have scrapped the ID card programme.
Lib Dem Manifesto p.18 “We will give people control over their pension by scrapping the rule that compels you to buy an annuity when you reach age 75”
The Government announced in the Emergency Budget that it will end the effective requirement to purchase an annuity by age 75 from April 2011.
Lib Dem Manifesto p.18 “Meeting the government’s obligations towards Equitable Life policyholders who have suffered loss. We will set up a swift, simple, transparent and fair payment scheme”
We have agreed a deal on Equitable Life which is fair to policy owners and the tax payer. This will finally bring an end to a terrible saga which Labour wouldn’t resolve.