David Cameron set to raise personal tax allowance above £10,000

David Cameron is to increase personal tax allowance to more than £10,000 in the upcoming budget. 

Interestingly, the idea of cutting taxes for the low-paid was the first pledge in the Liberal Democrat manifesto in 2010. So, the Lib Dems are claiming the Tories have stolen their key idea.

In a speech in the West Midlands, the PM is expected to say: “Too often we’ve given the impression that we’re just about fixing problems rather than changing things for a purpose. But that completely misunderstands what we’re trying to do. This is more than some turnaround team of accountants rescuing a failing business.”

“Every bit of government waste we can cut, every efficiency we can achieve is money we can give back to you.

“A bit of extra cash that can help a dad afford those trainers for his son or help a mum celebrate her daughter’s birthday with a meal out. Having more money in our pockets is what gives everyone that sense of financial security and peace of mind. It’s what enables us to provide for our families and feel more confident about the future.”

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