Henry Smith MP has welcomed the news that working families in Crawley are set to benefit from a range of Government measures coming into effect this week.
From 6th April, the tax-free personal allowance will rise for the seventh year to £11,500, benefitting around 56,870 people in Crawley and meaning a typical basic rate taxpayer will pay £1,000 less income tax than in 2010.
“I welcome this further increase in the tax-free personal allowance which more than 56,000 people in Crawley will benefit from.
“The Government continues to take action to reduce taxes and enable working people to keep more of what they earn.
“Since 2010 over 30 million people have seen a reduction in their income tax. However this is no time for complacency, and the personal allowance will rise further to £12,500 by 2020.”
As a result of changes to the personal allowance and higher rate threshold, 4,590,000 individuals in the South East of England gain on average £205 in 2017-18, and a total of 174,000 individuals will have been taken out of income tax altogether, compared to 2015-16.
In addition; the National Living Wage, which delivered a pay rise to a million people last year, will rise again to £7.50, providing an income boost of over £500 for a full time worker in Crawley.
The Government will provide up to £2,000 a year per child through the roll out of tax-free childcare, to help with childcare costs for families.
Savers will also get a boost, with access to the new market-leading NS&I bond which will pay 2.2 per cent on deposits up to £3,000.
“By giving the lowest paid a wage boost, taking more people out of income tax, boosting savings and helping with the cost of childcare, we’re putting working people at the heart of our plan for Britain: to build a stronger, fairer economy that works for everyone.”
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