£700 tax cut for 190,200 people in Swansea, Neath Port Talbot and Bridgend
Today's Budget announced that the Income Tax Personal Allowance will be raised to £10,000 in April 2014 - one year sooner than had been expected. This means 190,200 ordinary working people in Swansea (88,800), Neath Port Talbot (52,100) and Bridgend (49,300) will get a further Income Tax cut, bringing the total tax cut to £700 a year since Liberal Democrats joined the Coalition Government. This welcome news also means that 20,650 low-earners (8,330 in Swansea, 5,620 in Neath Port Talbot and 6,700 in Bridgend) will have been lifted out of paying Income Tax thanks to Liberal Democrats in the Coalition Government. Commenting, the Welsh Liberal Democrats Assembly Member for South Wales West, Peter Black said: "Liberal Democrats are working for a stronger economy and a fairer society, so that everyone can get on in life so we are cutting taxes for ordinary working people. "Liberal Democrats want fairer taxes, which is why we made raising the tax-free allowance our number one priority at the General Election - so important that we put it on the front page of our manifesto. "When times are tough, with rising bills and wages not keeping pace with inflation, we want to give people real, practical help. "Cutting Income Tax will not deal with all of those problems, but it will help. And I hope it will make a big difference to every family in this country." ENDS Notes to editors: Liberal Democrats in the Coalition Government have increased the amount of money you can earn tax-free every year. In April 2014 it will be raised to £10,000, a total tax cut of £700 a year for nearly 25m people. In 2014, someone working full-time on the minimum wage will see their Income Tax bill cut by more than half compared to what they were paying under Labour. By April 2014 we will have taken 2.7m low-income workers out of paying tax altogether. The majority will be women. The £700 tax cut means, for the average family, we have cut the Income Tax bill by a third. It is enough for a working couple to pay their council tax or combined gas and electricity bills for a year. Beyond this unprecedented rise in the Personal Allowance, we want to increase the tax-free allowance further until no one pays any Income Tax until they earn more than the National Minimum Wage. Labour's record of unfair taxes: Labour cut tax for millionaires every single year until their last month, while increasing tax on low earners by scrapping the 10p tax rate. Under Labour, someone on the Minimum Wage paid £1,000 in Income Tax. We have cut their tax bill by more than half and under our future plans, they would pay nothing. Labour helped the richest in society when they cut Capital Gains Tax for hedge fund managers and cut tax on millionaires' pension pots. Published and promoted by Peter Black, 1st Floor, 70 Mansel Street, Swansea, SA1 5TN. This website was established while I was an AM and is paid for by me. Printed (hosted) by Prater Raines Ltd, 98 Sandgate High Street, Folkestone CT20 3BY
Labour Government's reluctance to act leaves house builders and home buyers without support
The Welsh Liberal Democrat Shadow Housing Minister, Peter Black has questioned the commitment of the Labour Welsh Government to help first time buyers and house builders, after they announced that the mortgage guarantee scheme forced on them by the Welsh Liberal Democrats as part of a budget deal will not now be launched until 3rd June. "The Welsh Liberal Democrats Mortgage Guarantee scheme was agreed in good faith in May 2012" said Mr. Black. "It reflects successful schemes already in place in England and in a number of Welsh Councils and yet it has taken the Government more than a year just to agree a date to launch it. "The NewBuy Cymru scheme is a good one in so far as it will help to limit the deposit needed to buy a new home to 5% for 3,000 households, whilst also assisting house builders to sell their homes. However, the delay in launching it is inexplicable and has left both those seeking to get on the housing ladder and those wanting to build new homes without much needed support. It is little wonder that the housing market is so sluggish in Wales. "The 3rd June cannot come soon enough for those who will benefit from this scheme, but why have Ministers dragged their heels on this issue for so long?" Published and promoted by Peter Black, 1st Floor, 70 Mansel Street, Swansea, SA1 5TN. This website was established while I was an AM and is paid for by me. Printed (hosted) by Prater Raines Ltd, 98 Sandgate High Street, Folkestone CT20 3BY