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26/01/2012
Clegg Calls For Raise Of Tax Band
Nick Clegg has called for the coalition government to push forward with plans to raise the income tax threshold to £10,000.
The deputy prime minister said families were at a financial "boiling point" and called on the coalition to follow through with the Liberal Democrats election promise.
However, Labour's Shadow Exchequer Secretary to the Treasury, Owen Smith, has responded saying Clegg had "a cheek" preaching about fairness and tax.
“Nick Clegg has got a cheek preaching about fairness and tax. This is the man who campaigned against a rise in VAT and then introduced it just after he got elected. And his government’s autumn statement took three times more from families with children than from the banks.
“For the last year Labour has been arguing for fair tax cuts, such as a temporary cut in VAT, to help hard-pressed families and pensioners and kickstart our stalled economy. And we want to see a tax on bank bonuses at the top to fund 100,000 jobs for young people. Now that the economy has gone into reverse, these measures should be part of a real plan for jobs and growth in the next Budget.”
Raising the tax band would mean many part time and low paid workers would become exempt from income tax, while many others would see a drop in the amount of income tax they had to pay.
(DW)
The deputy prime minister said families were at a financial "boiling point" and called on the coalition to follow through with the Liberal Democrats election promise.
However, Labour's Shadow Exchequer Secretary to the Treasury, Owen Smith, has responded saying Clegg had "a cheek" preaching about fairness and tax.
“Nick Clegg has got a cheek preaching about fairness and tax. This is the man who campaigned against a rise in VAT and then introduced it just after he got elected. And his government’s autumn statement took three times more from families with children than from the banks.
“For the last year Labour has been arguing for fair tax cuts, such as a temporary cut in VAT, to help hard-pressed families and pensioners and kickstart our stalled economy. And we want to see a tax on bank bonuses at the top to fund 100,000 jobs for young people. Now that the economy has gone into reverse, these measures should be part of a real plan for jobs and growth in the next Budget.”
Raising the tax band would mean many part time and low paid workers would become exempt from income tax, while many others would see a drop in the amount of income tax they had to pay.
(DW)
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