Nov 24, 2008 0
Liberal Democrats in Reading West have called for income tax cuts to help struggling families weather the recession.
Speaking to a meeting of members over the weekend, Patrick Murray (Lib Dem Parliamentary Spokesperson) said that people in Reading West have endured a year of rocketting fuel, transport and food prices and many were still out of pocket following the government”s decision to double the starting rate of income tax.
“Today, 24th November, the Chancellor presents his Prebudget Report to Parliament,” said Patrick. “Liberal Democrats will be pressing for permanent tax cuts for people on low and middle incomes. We will be looking for radical changes in the tax system which lock in lower rates of income tax for good.”
“To make these tax cuts lasting, they have to be funded. That means shifting the tax burden onto pollution and ending the tax perks and loopholes enjoyed by the highest earners, as Vince Cable pointed out in his speech at Reading University last week.”
“We are worried that the Government will simply introduce temporary tax cuts, paid for by borrowing, which will disappear once we start to come out of recession.”
“Now is the time for a genuine and radical change to the tax system. Liberal Democrats will be pressing for that and, having spoken to many residents of Reading, I know it is what people here want.”
“We believe, however, that an area where borrowing should be allowed is investment in new buildings and facilities that are needed. I am very keen to see people’s homes properly insulated and more affordable homes built for people who need them.”
“As well as boosting jobs and the economy, it will help to save money in the future.”
To see the Pre-Budget Report click here.