£800 tax cut for 52,210 people in Bermondsey and Old Southwark

An £800 income tax cut for people across London is the real budget boost, Simon Hughes said today. 

The budget revealed plans to increase the personal allowance again from April 2015 and put a further £100 back in taxpayers’ pockets. Liberal Democrats have already delivered a £700 tax cut for low to middle earners, but today’s news goes even further for hardworking people.

The number of people who could benefit from a cut to the personal allowance in Bermondsey and Old Southwark is expected to be around 52,210.

Simon Hughes, Member of Parliament for Bermondsey and Old Southwark, said:

 “This further income tax cut is the real budget boost for working people and would not have happened without Liberal Democrats in government creating a stronger economy and a fairer society.

“The Tories are desperate to claim credit, but in reality their focus is on changes such as an inheritance tax cut for millionaires which we blocked, while Labour simply cannot be trusted with the economy.

“This was on the front page of our manifesto, but we are also helping people with a freeze on fuel duty and new tax-free childcare to help parents.”