Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Liberal Party Calls for Tax Threshold Increase up to £20000
Tax Threshold Increase up to £20000
As a party we are proposing that we increase the Income Tax threshold from the current £12,500 phased to £20,000.
There is a tripartite argument in favour of such a proposal:
It would incentivise work and encourage the work ethic’ back onto the agenda.
it would take people out of the lower end of the income spectrum out of paying tax completely. Free up 6 million people from income tax, by lifting the minimum threshold to £20,000, from £12,500 pa.
This is 1 in 5 taxpayers. Basic income tax rate stays at 20%. This would be paid for by a tapered progressive tax rate
Would, stimulate the economy: tax cuts should be focused on low- and middle-income households who tend to have a higher propensity to spend high degree of their income than high-income households.
Motion passed at the Liberal Party Special Assembly Saturday 20th November 2021.

Forum Jump:

Users browsing this thread: 1 Guest(s)