Today is pay day for millions of people across Britain, which means they will receive their first pay slip since the Income Tax personal allowance was raised from £8,105 to£9,440. When Liberal Democrats came into power in 2010 this was just £6,475.
Raising the tax-free allowance is the Liberal Democrats’ flagship policy and has so far seen Income Tax bills slashed by £600 a year for millions of low and middle income workers compared to what they were paying under Labour. As a result, more than 2m people on low pay have been lifted out of paying Income Tax altogether.
The tax-free allowance will rise again next year to £10,000, fulfilling a commitment from the front page of the Liberal Democrats’ 2010 General Election manifesto and resulting in a total tax cut of £700.
Commenting, Councillor James Baker said:
“If you get paid today, take a moment to compare your pay slip to last month’s. You’ll see that Liberal Democrats have cut your taxes.
In total over 79,000 people living in Calderdale have received a tax cut, this is the biggest programme of tax cuts for working people for a generation. This tax cut means an extra £40 million has been kept in the pockets of residents to be spent in our local economy.