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Monday, 24 November 2014

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UK budget signals income tax cuts for thousands across South Cumbria

FIGURES show 80,000 people in Barrow, Copeland and South Lakeland are set to have their income tax bills cut as a result of last week's Autumn Statement.

South Lakes MP Tim Farron today welcomed the news that 39,400 working people have received a tax cut in South Lakeland and that 3,390 people have been taken out of paying income tax altogether.

In Barrow a further 3,420 will no longer pay income tax and 25,600 people will have their bills reduced, while in Copeland 16,700 residents will pay less tax and 1,810 will pay none at all.

The tax-free personal allowance afforded to workers was set to rise from the current level of £8,105 to £9,205 in 2013/14, but the Autumn Statement signalled a further rise of £235 — taking the personal allowance to £9,440 for next year.

The move is set to life 250,000 low earners out of income tax completely across the country.


Tim said: "We live in an area which boasts one of the lowest unemployment levels in the country; however a huge proportion of those employed here are living on relatively low wages. With a local average salary of less than £24,000, changing the tax threshold is putting a great deal back into the pocket of South Lakes workers! Helping cut the taxes of thousands of hard working people will make a massive difference."

 

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