Today’s Budget announced that the Income Tax Personal Allowance will be raised to £10,000 in April 2014 – one year sooner than had been expected.
This means 86,500 ordinary working people in Haringey will get a further Income Tax cut, bringing the total tax cut to £700 a year since Liberal Democrats joined the Coalition Government.
In Haringey, this welcome news also means that 7,520 low-earners will have been lifted out of paying Income Tax thanks to Liberal Democrats in the Coalition Government.
Commenting, Liberal Democrat MP for Hornsey and Wood Green, Lynne Featherstone said:
“Liberal Democrats are working for a stronger economy and a fairer society, so that everyone can get on in life. That’s why we are cutting taxes for ordinary working people.
“Liberal Democrats want fairer taxes, which is why we made raising the tax-free allowance our number one priority at the General Election – so important that we put it on the front page of our manifesto.
“When times are tough, with rising bills and wages not keeping pace with inflation, we want to give people real, practical help.
“Cutting Income Tax will not deal with all of those problems, but it will help. And I hope it will make a big difference to every family in Haringey, and this country.”