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Friday, 3 April 2015

Lib Dems deliver tax cuts for millions, not millionaires

The Liberal Democrats have today unveiled a new election poster, which they say, highlights how their party is delivering, its flagship policy of an £825 tax cut for millions of low and middle income workers.

The Lib Dems say they've been cutting taxes by raising the personal allowance to £10,000 was on the front page of their 2010 General Election manifesto. In 2010 the, now, Prime Minister David Cameron told the ITV leaders debate "I'd love to raise the tax threshold, Nick [Clegg], but we simply can't afford it".

The Liberal Democrats say that in government they have had to fight to deliver this tax cut, 'tooth and nail' with the Conservatives who continued to say it was 'unaffordable.' Nick Clegg told his party conference in Glasgow that they could have reached the £10,000. target a year earlier than they did but Chancellor George Osborne refused to "deliver a Lib Dem budget".
Liberal Democrat tax poster

The Liberal Democrats say that the tax change priority for the Conservatives was cutting the top rate, which Labour had put up just before the 2010 election to 50p. The Lib Dems say they only agreed to a 5p cut in the top rate to speed up the raising of the threshold for the low rate. The Lib Dems point out that in every year of this Parliament those at the top have paid more income tax than under Labour and those at the bottom have paid less income tax than under Labour.

Commenting on the poster launch a Lib Dem spokesman said: "On Monday the personal tax allowance will increase to £10,600 meaning that during this Parliament Liberal Democrats will have delivered a tax cut worth £825 for 27 million workers. Under our manifesto plans we will go further and increase this to £12,500 by the end of the next Parliament delivering a further tax cut of £400."