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Hounslow Liberal Democrats |
4p Income Tax cut great news for the people of Hounslow
July 16, 2007 1:41 PM
Hounslow Lib Dems have welcomed the unveiling of Lib Dem plans to reduce the basic rate of income tax to 16p and scrap the council tax
Liberal Democrat Prospective MP for Brentford & Isleworth Cllr Dakers and Prospective MP for Feltham & Heston Cllr Hassam have welcomed the unveiling of Lib Dem plans to reduce the basic rate of income tax to 16p, and scrap the council tax. This will benefit millions of people on low and middle incomes across the UK. In Hounslow a typical double-earning couple in Hounslow would save around £1,140 a year.
Cllr Andrew Dakers, Lib Dem Prospective MP for Brentford & Isleworth, said:
"These proposals would mean lower tax bills for most households in Hounslow, as well as tackling inequality and environmental damage.
"The current system of taxation is not fair. The unacceptable reality is that in Britain today the poorest pay a higher proportion of their income in tax than the super-rich. Wealth inequality has actually risen since Labour came to power."
Proposals in the Liberal Democrat tax policy paper, 'Reducing the burden: Policies for tax reform' would:
- Save a typical pensioner couple nearly £1,600 a year through proposals including scrapping council tax1
- Save a typical double-earning couple in Hounslow around £1,140 a year through measures including a 4p cut in the basic rate of income tax
- Remove tax loop-holes exploited by the super-rich
- Reform stamp duty to reduce the amount of tax paid on properties worth less than £500,000
- Reform Inheritance Tax, with the aim of raising the starting threshold to £500,000
Cllr Munira Hassam, Prospective MP for Feltham & Heston, said:
"Our new proposals will continue to put fairness at the heart of the tax system. Low and middle income earners in this country shoulder too heavy a tax burden.
"These tax cuts for the majority will be paid for by the wealthy and those with environmentally damaging lifestyles."
ENDS
Notes to Editors
1 Figure based on a pensioner couple with a combined income of £15,000. See examples table (attached separately as a PDF) for calculations.
Estimated Impacts On Household Types From The Tax Changes in Hounslow
Earner 1 Earner 2 Council tax band Council tax bill Income Tax changes LIT Charge Overall gain/ loss
Male full time median* + Female full time median* £27,643 £23,262 D £1,395 £1,618 (£1,517) £1,139
Male full time median* £27,643 - D £1,395 £897 (£841) £1,094
Female full time median* £23,262 - D £1,395 £721 (£676) £1,083
- Brentford & Isleworth and Feltham & Heston constituencies average
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