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Eastbourne & Willingdon Lib Dems

Lib-Dem tax deal reduces inequality

July 17, 2013 9:55 AM

Eastbourne and Willingdon MP Stephen Lloyd has welcomed the news that - thanks to the raising of the Income Tax threshold as a result of Liberal Democrat policies in the Coalition Government - income inequality is now lower than at any time during the 13 years of the last Labour Government (1997-2010).

It represents an annual cut in Income Tax of £700. Thanks to the Liberal Democrats, no-one will pay any Tax on the first £10,000 of income from April next year.

In Eastbourne alone, this will reduce the tax bill for 34,800 people. In addition, over 3,500 people will be removed from the tax threshold all together, putting more money in the back pockets of those families that need it most.

Stephen said: "Eastbourne is continuing to buck the trend, and one of the many reasons for our strong economy is the tax cuts that the Lib Dems have introduced while in Government. That we can do this while reducing the deficit and encouraging green shoots in the economy demonstrates just how Coalition Government is introducing a fairer society and a stronger economy. "