Re: Tax Cuts!
I would like to see reductions in Income Tax to benefit the lower paid. An increase in the personal allowance (amount earned before income is taxed) would take many people out of the taxation bracket, and rightly so. Anyone earning, say, £10,000 a year is on a low income yet he/she will pay tax on any earnings over £6,035. He/she will only be eligible for Working Tax credit if working 30 hours a week or more.
The personal allowance should be increased to, at least, £10,000. The loss of revenue could be paid for by increasing the higher rate of tax to 50% for those earning over, say, £100,000 a year.
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