Denton and Reddish MP, Andrew Gwynne, has welcomed the decision by Labour Leader Ed Miliband to re-introduce the 10p starting rate of income tax.
This would mean that any future Labour government will put a fairer tax system at the heart of its new priorities and oppose the Government’s plans to cut the tax rate for millionaires.
Labour would also introduce a mansion tax on properties worth over £2m, and use the money raised to reintroduce a 10p rate of tax which would benefit 25 million basic rate taxpayers.
Currently families in the UK are working much harder for much less financial reward, whilst at the same time prices are going up. Small businesses that drive the economy on are being held back by the policies of the banks and the government. As a result the economy isn’t growing, has flat lined for over two year, and the deficit is going up.
Andrew Gwynne MP said:
“The decision to reintroduce the 10p tax rate under a future Labour Government would be a real benefit for a ordinary working people, especially the 2,750,000 basic rate taxpayers across the North West. It means that with a future One Nation Labour Government we will have a recovery made by the many, not just a few at the top.”