Tom Brake welcomes Income Tax cut for millions

May 3, 2011 4:17 PM

Last week many of the 900,000 people who have recently been lifted out of paying Income Tax and the 23 million who have received a £200 tax cut received their first pay cheques since the changes came into effect.

Local MP Tom Brake praised the changes, saying that "at a time when people are worried about their personal finances, this tax cut will help millions of people across the country."

The income Tax threshold, the point from which people start paying tax, has been raised by £1,000 to £7,475. The increase is the first step towards the Liberal Democrat commitment to raising the tax threshold to £10,000. A further rise is due in 2012.

In Sutton, this is expected to mean that 3,300 residents will no longer pay income Tax and that a further 85,000 will receive their first cheque with an increase in take-home pay.

Tom continued: "We have raised bank taxes by £10 billion to ensure that they pay their share. Over 3,000 people in Sutton will have their first pay cheque thanks to this Lib Dem tax cut."

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