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Thousands of Borderers receive tax cut – Moore

April 12, 2011 10:00 AM
Originally published by Scottish Liberal Democrats

As of last Wednesday, 6 April, nearly 900,000 people in the UK will be lifted out of Income Tax and 23million basic-rate tax payers will get an extra £200 in their pockets.

The Income Tax threshold, the point from which people start paying their taxes, was raised last week by £1,000 to £7,475.

This increase is the first step toward the Liberal Democrat commitment to raise the Income Tax threshold to £10,000, with a further rise of the threshold due in 2012.

In the Scottish Borders, this is means that around 2,200 people will no longer have to pay Income Tax and a further 43,000 people will get an average of £200 per year back in their pockets.

Commenting, Mr Moore said:

"At a time when people are worried about their personal finances, this tax cut will help millions of people across the UK.

"I am proud that thanks to Liberal Democrats in Government over 45,000 low and middle income Borderers will receive a tax cut and I know this will make a real difference.

"One way we are paying for this is by taxing the banks more, £10bn more, so they pay their share."

"This tax cut is straight from the front page of our manifesto to the pockets of 23m tax payers."

Commenting further, Deputy Prime Minister and Liberal Democrat Leader, Nick Clegg said:

"We have to make difficult decisions but we can still make life fairer and that's what Liberal Democrats in government and across Britain are doing.

"From today Liberal Democrats have delivered a £200 income tax cut to every basic rate taxpayer, and there's more to come - our ambition is a country where no one pays any income tax on the first £10,000 they earn.

"These are the kind of decisions Liberal Democrats are making in Government to make life just that little bit easier for people who are facing difficult times."

Notes:

1. The raising of the Income Tax threshold to £10,000 was a priority for the Liberal Democrats in the General Election: it was one of four policies we put on the front of our manifesto (along with the pupil premium; a rebalanced economy; and long-lasting political reform).

2. We have already started to deliver on all four of those key priorities.

3. By 2012/13, the Income Tax Threshold will be raised to £8,105, meaning that Liberal Democrats will have lifted 1.1 million people out of paying tax and will have given 25 million people a tax cut worth £326.