DC writes about higher tax-free allowances

Prime Minister David Cameron writes ...
 

"Today is a big day for hardworking taxpayers - because from today, you will keep more of your hard-earned money.

When we came to office, you could only earn £6,475 tax-free. But from today, you can now earn £10,600 before you pay any income tax.

That's a tax cut for over 26 million people - and it means we've taken over 3 million people out of income tax altogether.

To find out how much you'll save, use our tax cut calculator today.

Lower taxes are making our country a better and fairer place to live - where those who put in, get out; where hard work is rewarded; and where people are trusted with their own money.

And if we win the next election, we will raise the personal tax-free allowance to £12,500 - cutting tax for 30 million people and taking another million out of tax - and make sure no-one earning below £50,000 pays the 40p rate of tax.

The gulf between us and Labour on this couldn't be any wider. They opposed all our tax cuts in this Parliament - and will raise taxes by £3,028 for every working family if they win the next election.

The choice is clearer than ever. Tax cuts with the Conservatives; tax rises with Ed Miliband and Labour. Work rewarded with us; work punished with them.

Help get that message out there by sharing our tax cut calculator on Facebook and Twitter today.

Thank you,

David Cameron"

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Promoted by Alan Mabbutt on behalf of the Conservative Party, both at 4 Matthew Parker Street, London, SW1H 9HQ
 

Comments

Jim said…
Ideally the tax threshold should be abolished.

What?, have you gone mad Jim??

no, hear me out. if the tax threshold was abolished and replaced with a fixed citizens income, lets say that is £100 per week and that's it.

Now you can take your citizens income as cash, or if you want you can take it as a tax threshold which allows you to earn £20,800 tax free.

or you can take it as a split, so give yourself a £10,400 threshold and get £50 each week.

if you lose your job then just go for the £100 each week (that is your benefits and the others like JSA are scrapped)

you see, now it always pays to work, the tax threshold is better, the expenditure of government has just been cut and it removes that often reported "poverty trap", - simples.
6:02 pm
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