Henry Smith MP hailed the Prime Minister’s announcement that a majority Conservative government would raise the tax-free Personal Allowance by a further £2,000, and will increase the higher rate income tax threshold to £50,000.
Henry said;
“I am delighted to see the Prime Minister announce that, if the Conservatives win a majority in 2015, the tax-free Personal Allowance will increase from £10,500 to £12,500.
“This will take another million workers out of income tax, and will ensure an additional 30 million people get a tax cut. For Crawley this means over 42,000 household will get a tax cut.
“David Cameron has made it clear. If you work 30 hours a week, on the minimum wage, you will pay no income tax.
“It is also great to see that the Higher Rate Threshold at which people start paying 40 per cent tax will go up by over £8,000 to £50,000.
“The 40p tax rate was only supposed to be paid by the most well-off people in our society, however over the last 20 years or so, far too many have been dragged into it, including teachers and police officers.
“The Prime Minister said that, ‘if you work hard and do the right thing, we say you should keep more of your own money to spend as you choose’. I know that there are many people throughout our town who will agree.”
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ENDS