News Date: Tuesday 17th April 2012
Tim Loughton MP: A tax cut of £220 for 37,012 people in East Worthing and Shoreham
In his 2012 Budget the Chancellor announced that the income tax personal allowance will be increased from April 2013 by an additional £1,100 to £9,205. This increase will give 37,012 people in East Worthing and Shoreham a much needed boost every month.
This means that income tax has been cut by up to £546 for basic rate taxpayers since the Government came to power and 2 million of the lowest earners will have been taken out of tax altogether.
Welcoming the decision, Tim said:
“This is fantastic news for my constituency and will further cut the tax bill of 37,012 people by up to £220 next year. Thanks to this decision, 1,166 of my constituents will be taken out of tax altogether and 2,737 constituents will have been lifted out of income tax altogether by this Government.
“The announcement shows that this Government is committed to helping hard-working families across the UK”.