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MP welcomes tax deal which reduces inequality

July 12, 2013 10:05 AM

Tim in WestminsterSouth Lakes MP Tim Farron has welcomed the news that by 2014 an estimated 28,990 of the poorest Cumbrians will be lifted out of paying tax altogether and an estimated further 200,200 will have their tax bills cut.

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, from April next year no-one will pay any tax on the first £10,000 of income.

The good news that inequality is narrowing was confirmed in official figures from the Office of National Statistics (ONS) on Wednesday.

Speaking this morning, Tim said: "I want to see a fairer tax system where help is provided for those who need it most and where the richest pay their fair share.

"Raising the Income Tax threshold to £10,000 will help ordinary working people in Cumbria who have been struggling with bills and higher cost of living."