Over a thousand of Haringey’s lowest paid workers will this week be taken out of paying income tax altogether, and over 75,000 residents will see a cash-boost of £200 as the Liberal Democrat changes to income tax come into force in the new financial year.
 
The welcome relief is the first step in the implementation of a key Liberal Democrat policy, to ensure that by 2015 no one earning less than £10,000 a year pays any income tax. In the recent budget, the government announced that by next April, another 900 Haringey residents will be relieved of income tax, while close to a 100,000 will get the much-needed cash boost of yet another £126, as the income tax threshold increases to £8105.
 
Lynne Featherstone MP comments:
 
“I am proud that this week, Liberal Democrats are cutting taxes for about 1,300 low-paid residents in Haringey. This policy has gone from the front page of our manifesto to the pockets of thousands of people across Hornsey and Wood Green and beyond.
 
“But that’s not all. Close to 80,000 people in Haringey will get a £200 tax cut this year, and the recent budget announcement means another £126 back in people’s pockets next year.
 
“Step by step, we are taking those on the lowest incomes out of paying tax altogether, with the threshold raised to £10,000 by the end of this parliament, and over a hundred thousand residents on modest incomes feeling real benefits too. That’s real help where it’s needed most; and I’m proud to be part of this.”