East Devon taxpayers benefit from income tax slash
Hugo Swire, MP for East Devon, backs Government income tax cuts
INCOME tax may have been slashed for 50,000 people living in East Devon.
The Government’s recent figures show income tax has been cut for 1.99 million people across the South West, approximately 38 per cent.
Some 71,000 of the lowest paid workers in the region have been taken out of tax altogether.
The increase in the income tax personal allowance of �1,000, announced at the June 2010 Budget, came into effect last month and means basic rate taxpayers are �200 a year better off.
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Next year’s personal allowance increase of �630, will benefit a further 2.17 million in the South West – by �126 a year.
East Devon MP Hugo Swire said: “We know that times are tough for families across the country, and so it is also important to lift people out of the income tax system and allow them to keep more of their hard-earned money.
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“I am aware that many local shops and businesses in East Devon are having a difficult time and reducing the tax burden on many families will hopefully encourage consumer confidence.”
The increased personal allowance has been offset by the VAT increase from 17.5 per cent to 20 per cent and increases in fuel duty.