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.”
Tag Archives: budget 2011
Budget 2011 – help for thousands of low paid residents in Haringey
It is estimated that over a thousand of the lowest paid residents in Haringey will not have to pay income tax from April 2011 after the announcement by the government today that the tax threshold will increase by £630 to £8105.
The effect of the government’s change to income tax rates is estimated to reduce annual tax bills by £200 for 76,000 local residents and lift 1,300 people in the borough from paying any income tax at all.
The announcement by the coalition government is the next step in the implementation of a key Liberal Democrat policy to ensure, by 2015, that no-one earning less than £10,000 a year pays income tax.
Welcoming the announcement, Cllr Richard Wilson, Deputy Leader of Haringey Liberal Democrats, comments:
“I welcome the government’s recognition that local residents should be free from central government taxes on their income less than £8015. When people want to work they should have incentives that show work pays. This will help some of the lowest paid workers in Haringey and is a great step towards tackling the inequality in this borough which has festered under Labour.”
Lynne Featherstone MP added:
“This is another step towards achieving the Liberal Democrat aim to ensure that no-one has to pay tax on the first £10,000 of their hard-earned wages. I am glad that, even after the horrendous state Labour left our public finances, Liberal Democrats in government are still able to deliver real benefits for local people struggling on low wages.”
Lynne Featherstone 