News £850k - Who had what and why!

After today’s Autum Statement by Chancellor George Osborne North Wales Assembly Member Aled Roberts issued a comment regarding tax cuts – claiming nearly 51,000 people in Wrexham will benefit.

Mr Roberts said “Liberal Democrats are working for a stronger economy and a fairer society, so that everyone can get on in life. That’s why we are cutting taxes for working people in Wales. Today’s announcement means that by April, 50,900 ordinary working people in Wrexham will get a further Income Tax cut, bringing the total tax cut to £600 a year since Liberal Democrats joined the Coalition Government.”

“In Wrexham this welcome news also means that Liberal Democrats have lifted 4,700 low-earners out of paying Income Tax all together since the Coalition Government came to power.”

A summary of the income tax related changes in the Autum Statement:

  • Basic income tax threshold to be raised by £235 more than previously announced next year, to £9,440
  • Threshold for 40% rate of income tax to rise by 1% in 2014 and 2015, from £41,450 to £41,865 and then £42,285
  • Inheritance tax threshold to be increased by 1% next year

How do you feel after the Autumn Statement? Are you one of the 50,900 people in Wrexham covered by the above claim? The forum debate starts by clicking here….

(Picture: Money, is it going to the taxman or staying in your pocket?)