Liberal Democrats call for tax cuts to help beat recession
November 2, 2008 6:59 PM
LibDems would cut income tax to help people through these hard economic times
Liberal Democrats are calling for a cut in income tax for people on low and middle incomes to help them beat the looming recession.
"Inflation is at its highest for years," said Westminster Liberal Democrat campaigner Sue Baring. "Many local residents are struggling to heat their homes. What would really help them right now is extra money in their pockets.
"Liberal Democrats are calling for a cut in income tax of 4p in the pound. This can be paid for by closing the loopholes used by some of the most wealthy to avoid paying tax - and we will increase the level of tax on the most polluting activities.
"Too many people are faced with the prospect of either eating properly or heating their homes. This demands action now.
"Many residents on low incomes are paying more in tax following the Government's decision to double the starting rate of income tax from 10p to 20p in the pound. Although the Government was eventually forced to come forward with a package to compensate people for the tax increase, many are still worse off.
"Cutting income tax would therefore give residents and our local economy a boost at a time when it is desperately needed."
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