25,700 receiving an Income Tax cut in Ynys Mon

25,700 receiving an Income Tax cut in Ynys Mon.

From 6th April 2011, around 700 people in Ynys Mon will no longer have to pay Income Tax and a further 25,000 will get £200 extra in their pockets.

Liberal Democrats in Government secured a rise in the Income Tax threshold, the point from which people start paying their taxes, of £1,000 to £7,475 which comes into force today.

Across Britain nearly 900,000 people will be lifted out of paying Income Tax while around 23m basic-rate tax payers will get an extra £200 in their pockets.

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 was announced in the budget for 2012.

Commenting, Ynys Mon Assembly candidate Rhys Taylor said:

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

“In Ynys Mon, 25,000 people will get an extra £200 to spend this year and I know this will make a real difference.

“I am proud that thanks to Liberal Democrats in Government, almost a million people will be lifted out of paying tax altogether across the country, while 23m people will get a tax cut.

“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.”

Taxes and pensions. Lib Dem policies in the Coalition.

Embargo: None

 

25,700 receiving an Income Tax cut in Ynys Mon

From 6th April 2011, around 700 people in Ynys Mon will no longer have to pay Income Tax and a further 25,000 will get £200 extra in their pockets.

Liberal Democrats in Government secured a rise in the Income Tax threshold, the point from which people start paying their taxes, of £1,000 to £7,475 which comes into force today. Across Britain nearly 900,000 people will be lifted out of paying Income Tax while around 23m basic-rate tax payers will get an extra £200 in their pockets. 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 was announced in the budget for 2012.

Commenting, Ynys Mon Assembly candidate Rhys Taylor said:

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

 

“In Ynys Mon, 25,000 people will get an extra £200 to spend this year and I know this will make a real difference.

“I am proud that thanks to Liberal Democrats in Government, almost a million people will be lifted out of paying tax altogether across the country, while 23m people will get a tax cut.

“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.”