New figures show that the Government has cut income tax for 1,990,000 people across the West Midlands, resulting in 71,000 of the lowest paid being taken out of tax altogether. Across the country, 22.6 million people have had an income tax cut worth £200 this year and 830,000 have been taken out of tax.
The increase in the income tax personal allowance of £1,000, announced at the June 2010 Budget, came into effect last month and means that basic rate taxpayers are £200 a year better off. Furthermore, next year’s personal allowance increase of £630 will benefit a further 1,820,000 people in the West Midlands by £126 a year and take a further 25,000 people in the region out of tax.
Commenting, Bill said:
“I welcome the fact that this year alone, thanks to Government action, nearly two million people in the West Midlands are paying £200 less income tax this year, and 71,000 of the lowest paid in this region have been taken out of tax altogether.”
“We know that times are tough for families across the country, and so it is also important to lift people out of the income tax system and allow them to keep more of their hard-earned money.”