The increase in the income tax personal allowance has been one of the coalition’s biggest successes, delivering tax cuts to the lowest paid who are most in need of help. It is increasingly clear to the public that this sort of help for the lowest paid would not have happened were it not for the Liberal Democrats in government.
As the economy begins to recover, it is vital that the Lib Dems demonstrate not only that they can be trusted to fix the financial situation, but also that they can deliver on key pledges to help those on the lowest incomes.
Today’s move will mean that those earning the national minimum wage will pay £800 a year less in tax compared to 2010 thanks to the policy of the Lib Dems.
The 2015 general election will be fought in large part on the issue of living standards. It is much more effective to increase people’s take-home pay by directly cutting their taxes, as opposed to the complex and probably ineffective tax breaks for firms paying a so-called living wage proposed by Labour.
Today’s announcement builds on the party’s successes, providing the Lib Dems with the strongest platform of all the major parties when it comes to delivering help for those on middle and low incomes.