Good news around the corner
Posted by Laura Sandys, MP for South Thanet, at 13:49, Thu 19 December 2013:
Good news is just around the corner and will result in more of your paycheck staying firmly in your pocket: from April next year, everyone will be able to earn £10,000 before they have to pay any tax whatsoever. In 2011, this limit was set at just £7,475 so we have come a long way in a short period of time and this year’s increase to the tax-free allowance was the largest in a generation.
In South Thanet, 3,794 people will pay no tax at all as a result of these changes whilst almost 40,000 will benefit from a tax cut. Nationally, an estimated 25 million people will have seen their income tax cut by up to £700. I am particularly pleased that very importantly, the Government will have lifted 2.7 million of the lowest earners out of income tax altogether. At a time when everyone is having to tighten their belts, this is extremely welcome news indeed.
Employers have had some good news too and are set to benefit from changes just announced by the Chancellor with a jobs tax scrapped. Businesses will no longer have to pay National Insurance contributions for people under 21 in their employ, giving our young people a better chance to gain experience and learn new skills.
The Chancellor had a further positive announcement for us all last week as he declared that petrol taxes will definitely stay frozen and a 2p per litre rise planned for next year has been ditched. By the end of the Parliament, fuel will be 20 pence per litre cheaper than it would have been under Labour, saving the average motorist £11 every time they fill up their tank. Fuel prices affect us all whether directly or indirectly, so this is a decision that will really have a positive impact all around.
Taxation has always been a difficult issue. It is absolutely vital and pays for frontline services like our NHS and police but also represents a portion of a pay check that someone will never see. It is therefore important to get the balance right and I’m glad that so many people, particularly lower earners, will see more money left in their pockets as a result of these all-important changes.
- Laura's View- Isle of Thanet Gazette, 13th Dec 2013
Comments
If you are subscribed to HearFromYourMP in this constituency,
log in to post a reply.
Otherwise, if you live in the UK,
sign up in order to
HearFromYourMP.
Posted by stuart kinnear, 15:21, Thu 19 December 2013: (Is this post abusive?) #
Not as far as we are concerned we are still paying tax after 48 years of hard work, NO Benefit what so ever. Would be grateful if you could assist us to force our Housing Association into giving my wife a kitchen then is suitable for her disability.
Regards Stuart