£700 a year better off…
April 20th, 2009 by Andrew FiskThat is what most lower and middle income tax payers will be if Nick Clegg and Vince Cable get their way.
The plan is to raise the lower threshold for income tax to £10,000 and re-coupe the money by closing tax loopholes on higher earners.
Sounds good to me.
Liberal Democrats also would scrap the 2.5% reduction on the rate of VAT. It wastes £12.5 Billion on a measure that barely touches the economic crisis we are in. Instead the Lib Dems would use the money to insulate hospitals and schools, build up public transport and boost the Green economy.