MP welcomes tax cut for over 150,000 Cumbrians
South Lakes MP Tim Farron has welcomed the income tax cut that will be introduced from 6th April 2013 as a giant leap towards the goal of a fairer tax system.
On 6 April 2013, the Personal Allowance will be raised to £9,440 - the largest rise in the Personal Allowance ever. This means that 172,100 ordinary basic rate taxpayers in Cumbria will see their income tax cut for the third year in a row. That will bring the total income tax cut since 2010 to £600.
This further increase in the income tax threshold will also see 19,450 of the poorest people in Cumbria lifted out of paying income tax altogether.
Commenting Tim said: "We live in an area which boasts one of the lowest unemployment levels in the country; however a huge proportion of those employed here are living on relatively low wages. With a local average salary of less than £24,000, changing the tax threshold is putting a great deal of money back into the pocket of South Lakes workers!
"Helping cut the taxes of thousands of hard working people will make a massive difference."