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Income tax scrapped for four million people under Lib Dems

December 1, 2009 9:56 PM

Radical plans have been launched to overhaul the tax system and benefit the people of Bedford and Kempston.

Henry Vann has welcomed the radical economic plans announced yesterday by Nick Clegg, leader of the Liberal Democrats and Vince Cable, the shadow Chancellor.

The plans would raise the personal allowance to £10,000, cutting tax for those on low and middle incomes by over £700, and paid for by closing tax loopholes exploited by the super-rich and introducing a levy on 'mansions' worth over £2 million.

The Conservatives have pledged a tax cut for millionaires and yet at the same time warn that there might be tax increases for everyone else. The Liberal Democrats would create a fairer, progressive tax system.

Under Labour the poorest pay a bigger slice of their income than the richest and we lose as much as £40 billion a year to wealthy tax dodgers.

Henry Vann, Bedford and Kempston's Liberal Democrat parliamentary campaigner has welcomed the plans.

"Minimum wage should be a living wage and the Liberal Democrats are the only party that can offer a fair tax system for all.

"Our plans, to give almost every family and hard-working individual £700 back a year will benefit everyone on low and middle incomes, and will re-balance our tax system to make it more progressive, and fairer.

"The revenue generated from our tax on the super rich and other levys will help help those on low and middle incomes who New Labour seem to have forgotten.

"The Conservatives have said they would cut taxes for millionaires whilst warning us at that they may increase taxes for everyone else.

"This is about basic fairness, and only the Liberal Democrats can offer this."

Vince Cable recently came to Bedford, visiting the Wells and Young's brewery to see how businesses are tackling the recession, and Nick Clegg also visited the town for a town hall meeting, listening directly to the concerns of the people of Bedford & Kempston.

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