103,400 ordinary workers here in Stockport will get a £130 annual tax cut from April 2012. And 4,300 of Stockport’s lowest paid workers will now pay no income tax at all.
This will mean that people who work full time at minimum wage will have their income tax halved. A massive difference from when Gordon Brown doubled their tax from 10% to 20% during the last Labour government.
This is just this year’s part of the Liberal Democrat work to get tax cuts for the low paid, which when complete will mean people not earning the top rate of tax taking home an extra £60 a month. More than 2 million people across the country will benefit from this decision next month.
Local councillor Ann Smith is in favour of raising the tax threshold to around £12,000, taking anyone earning only the minimum wage out of tax altogether.
“I am pleased that this extra help has been secured for hard working people in Stockport faced with higher petrol and energy bills,” Ann said.
“If anyone is to have a tax cut it should be the low paid. I’m pleased that the work of Lib Dems in the coalition means that it will be a tax cut for millions, not millionaires.”