BUDGET: West Cornwall MP Andrew George praises new tax threshold
WEST Cornwall MP Andrew George has welcomed news in today's budget that lower paid workers will benefit from a new tax threshold.
Reacting to the announcement that the personal allowance will be increased by £560 to £10,000 by 2014-15, the Liberal Democrat politician said it was important to support the lowest paid members of society.
"We have always believed that the priority should be cutting taxes for working people and lifting the poorest out of paying Income Tax altogether," he said. "This was our top priority at the General Election and I am delighted that the threshold has now been raised to £10,000."
As part of the rise, Chancellor George Osborne also said 2.7 million low income individuals under 65 would be lifted out of income tax altogether and from April 2014 the typical basic rate taxpayer would pay £705 less income tax a year in cash terms.
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