Martin Horwood, Cheltenham’s Liberal Democrat MP since 2005, has welcomed his party’s latest plans to cut tax for even more hard-working families.
The Lib Dems announced today that they will increase the Personal Allowance to £12,500 with money raised from evasion and avoidance after the job of deficit reduction is complete by 2017/18
The detailed plans come a day after the Lib Dems delivered on their 2010 commitment to raise the Personal Allowance to £10,600, which will deliver a tax cut worth £825 to those on middle and low incomes.
Martin said, “Raising the minimum tax threshold was at the core of our 2010 manifesto, and I’m incredibly proud that the Liberal Democrats have delivered this in government.
“Thousands of hardworking people in Cheltenham will find themselves £825 better off because they won’t pay a single penny of income tax on the first £10,600 of their wages. This is a tax cut that David Cameron said in 2010 we ‘simply couldn’t afford’.
“Now the Liberal Democrats are taking this even further, and will raise the threshold yet again to £12,500. We’ll pay for it by taking even more actions against tax evaders, part of our overall commitment to max taxes fair. There is only one party with a track record of promising tax cuts on the front page of its manifesto and delivering them to the pockets of middle and low income families up and down the country. That is the Liberal Democrats.”
Speaking to local volunteers in Cheltenham, Liberal Democrat Leader and Deputy Prime Minister Nick Clegg said: “The Liberal Democrats' job in government has been to fix the economy in the fairest way possible. We have had to drag the Conservatives to that position.
“Now they want to veer off from the balanced approach of the coalition so they can help their friends in big business and big houses by cutting public services much more deeply than necessary.
“Only the Liberal Democrats will make sure our recovery is strong, stable and fair. We will cut less than the Conservatives and borrow less than Labour.”