Wednesday, 6 April 2011

Liberal Democrats give 20,900 Ceredigion residents an Income Tax cut

It's a good day for thousands of people in Ceredigion - all thanks to the Liberal Democrats.

From today, the beginning of the new tax year, around 900 people in Ceredigion will no longer have to pay Income Tax and a further 20,000 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, Ceredigion's Welsh Liberal Democrat Assembly candidate Elizabeth Evans said:

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

“Here in Ceredigion, 20,000 local residents 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 - 900 of those here in Ceredigion - 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.”

In an area where average earnings are lower than the national average, this is great news for hard pressed local people. It shows that the Liberal Democrats are on the side of fairness and let's be in any doubt about this - if the Liberal Democrats weren't in coalition now, this wouldn't be happening.

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