I’ve just received the following communication regarding how much the Income Tax threshold will effect each area throughout the United Kingdom. Being based here in Southend-on-Sea I shall talk about this area in this e-mail. If you want other areas then please either leave me a comment or get in touch. No doubt the excel file will be floating around the sphere of the internet sooner rather than later.
So between 2010 and 2012 the Income Tax threshold has given 3,970 an Income Tax cut in the Southend region. In the tax year 2012-2013 that will increase to 5,870 but the move in the budget today to up the limit to £9,205 for April 2013 means that for the tax year 2013-2014 60,500 people in Southend-on-Sea will be affected and given an Income Tax cut. That is a staggering leap.
The amount of people who earn between £8,105 and £9,205 is clearly a large amount. These are people who work nearly full-time at the minimum wage. This change will put money back in the pockets of these people and that is something the Liberal Democrats have been committed to for a long time. This should be regarded as a very good thing for everyone and for 60,500 people in Southend their Income Tax Bill from 2014 will be roughly halved according to the Chancellor and that will put around £220 back into the pockets of these people and by 2014 it is hoped the threshold will rise to £10,000, which will effect even more people and put more people in a good situation with regards to Income Tax.
This is good news for people all over the country. Everyone earning 100,000 a year or less will get more money in their pocket as a result of this but it’ll be those on low incomes that will benefit most and that is a very good thing.
More money in the back pocket is never a bad thing and this move means that everyone will get that.
For the record as a whole – Essex will see 502,500 people given a cut in their Income Tax. Not too shabby if you ask me…
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