Theresa Villiers has welcomed the help for hard working people set out in the Conservative Manifesto this week. After attending the launch of the manifesto in Swindon, Theresa Villiers said “Help for people who work hard and do the right thing is a top priority for the Conservatives. Our manifesto confirms that under a majority Conservative Government, there would be no increase in rates of VAT, income tax or National Insurance.”
“And we would take the family home out of tax for all but the richest by increasing the effective Inheritance Tax threshold for married couples to £1 million, with a new transferable main residence allowance of £175,000 per person. This would be paid for by reducing the tax relief on pension contributions for people earning more than £150,000.”
“We have already cut income tax for over 26 million people and taken over 3 million out of tax altogether. We have now promised a further increase the threshold level of earnings at which people start to pay income tax to £12,500, taking those working 30 hours a week on the minimum wage out of income tax altogether. This will save those on the lower income levels an extra £400 a year. We propose to raise the threshold for the 40p tax rate to £50,000, so that the top rate is focused on higher earners it was intended for not the very wide range of people caught by it at present.”
“Our manifesto offers 30 hours of free child care during term time for working parents of 3 and 4 year olds. This will save families around £5000 every year.”
“I believe these proposals would help many residents in Barnet. They are only possible because of the difficult decisions we have taken to deliver our long term economic plan. For a brighter more secure future, vote Conservative on 7th May.”
Click here to see a copy of the Conservative manifesto.