Monday, April 20, 2009

Lib Dems could save you £705 with simple tax measure

What would you do with an extra £705 per year? If Liberal Democrat tax proposals announced today are implemented, you might well get the chance to find out.

Basically, you would only pay tax on earnings over £10,000. This would be a much needed and significant boost to the budgets of many low and middle income households. It would also go some way to redressing the terrible situation which, under successive Conservative, and more scandalously, Labour governments has meant that the poor pay a higher proportion of their income in tax than the rich.

It's a good idea, easily explained and understood. Labour has tried and failed to make lives easier for some people on low incomes, but has hung others out to dry. If you have no children, or are not quite disabled enough to get disability benefits, but ill enough to restrict your ability to work, then you get precious little help from this Government. The beauty of this measure is its simplicity and accessibility to everyone. It's also worth pointing out that there are proportionally more women than men on very low incomes and many of them will be taken out of tax altogether.

It's not the whole solution, but it's a big step in the right direction.

LibDig This!

1 comment:

FamHistMan said...

Hi Caron

I noticed the BBC in the 6pm news split this story off in reponse to the Governments proposals for the Budget. I also noticed that the Tories came up with the sound bite response about say they would solve it all but with no detail. I think the words from George Osbourne as "If the Government can't take the tough decisions on public spending then the Tories would after they win the election". Non-answer with no actual solution with a touch of arrogance added to the mixture.


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