This builds on action the Conservatives have already taken in Government to cut income tax. The personal allowance has already risen to £10,000 since 2010, meaning the typical taxpayer is paying £705 less in income tax, and over three million have been taken out of income tax altogether. This will rise again to £10,500 from next April.
I believe strongly that the best way to make families more secure is to let people keep more of what they’ve worked hard to earn, and that it’s morally wrong for politicians to go around spending hardworking taxpayer’s money like it grows on trees.
That’s why in Government we’ve been cutting income tax at the same time as reducing the deficit. A future Conservative government will take this even further, lifting an estimated 4550 people in Mid Dorset and North Poole out of paying income tax altogether at the same time as cutting taxes for 30 million people.
We need to stick to the Conservatives’ long-term economic plan which will deliver this. By cutting the deficit and taxes we’re helping hardworking taxpayers be more financially secure and have greater peace-of-mind about the future.