Danny Alexander calls for income tax threshold rise

Liberal Democrat Treasury Minister Danny Alexander has called for the threshold for income tax to be raised to £10,000.Alexander is expected to put the proposal forward at the Liberal Democrat conference in Brighton next week. Reports say he will call for the threshold for paying income tax to be increased to £10,000 within the next 18 months.The Treasury Minister is quoted by the London Evening Standard as saying, “We need fairer taxes in these tough times. From April next year, we will have lifted two million people out of income tax altogether and provided a tax cut of almost £550 to over 20 million low and middle earners.”He added, “Lifting the personal allowance to £10,000 would provide a further £160 tax cut to low and middle earners and take hundreds of thousands more out of tax.”However, many commentators suspect that Alexander’s proposal will not go down well with his Tory colleagues in the Coalition. Some believe that the Conservatives are keen to retain their reputation as the ‘low tax party’, and will not want the credit for cuts to go to the Liberal Democrats.

http://www.50percenttax.co.uk/index/2012/9/24/danny-alexander-calls-for-income-tax-threshold-rise.html