Sunday, 8 February 2015

The truth about the Conservatives and tax cuts by Sebastian Kindersley

The Conservatives are making brazen attempts to take credit for raising the personal tax threshold despite the changes being delivered by Liberal Democrats in government.

New analysis by HM Treasury reveals that by raising the personal tax allowance to £10,600, that 8.3m households will have benefitted twice from increasing the tax allowance and will on average be £1,330 better off each year.

Increasing the personal tax allowance was on the front page of the Liberal Democrat 2010 manifesto but for the Conservatives it was not a priority.

During the first leaders' debate in 2010, David Cameron said that cutting taxes for millions of workers was unaffordable and that huge tax changes could not be delivered.

In government the Conservatives have jumped from one tax priority to the next.

One moment it's a tax break for shares for rights, the next it's a tax penalty for those who are not married.

The Conservatives have been inconsistent in their approach to tax policy, favouring a few.

The Liberal Democrats on the other hand have been consistent in prioritising a huge tax cut for the many, not the few.

Thanks to the work of Liberal Democrats in government, we have been able to deliver a tax cut worth £825 to 26m workers and have lifted more than 3m people out of paying income tax.

These changes would not be happening without Liberal Democrats in government.