£680 Back in Your Pocket: Lib Dem Plan to Cut Income Tax

People across Newbury and West Berkshire are feeling the squeeze, from higher household bills and mortgage payments to rising costs for local businesses.

At the same time, frozen tax thresholds mean millions of people are paying more income tax as their wages rise.

That's why I welcome the Liberal Democrats' plan, announced by Ed Davey at our Autumn Conference, to cut income tax for working people.

We would raise the tax-free personal allowance from £12,570 to £15,000. For most taxpayers, that would mean a tax cut of around £680 a year, while taking 2.5 million of the lowest-paid workers out of income tax altogether.

We would also increase the threshold for the 40p rate from £50,270 to £56,000, helping people whose wages have risen into a higher tax band.

For families already having to watch every penny, that extra money could make a real impact.

The plan would be funded through stronger economic growth, including rebuilding our relationship with Europe and reducing barriers facing British businesses. Local firms regularly tell me about the difficulties they face when trying to grow, invest and create jobs.

After years of rising costs and stagnant living standards, people need more room in their household budgets.

As your local MP, I'll continue campaigning on the issues residents raise with me, from cleaning up our rivers and improving healthcare to tackling transport problems and securing better local services. But giving people more control over their own money is part of that too.