Government must cut tax on the poorest and invest for the future
November 23, 2008 7:04 PM
Theo Butt Philip, Lib Dem Prospective Parliamentary Candidate for Bridgwater and West Somerset, has called for permanent income tax cuts for low and middle income earners.
The day before the Chancellor of the Exchequer presents his Pre-Budget Report to Parliament, Theo Butt Philip has given his support to the Liberal Democrat Economic Recovery Plan.
Theo Butt Philip commented:
"I fully support the efforts of Nick Clegg and Vince Cable to put together a comprehensive economic package of policies to see us through the current economic turmoil which can bee seen in Liberal Democrat Economic Recovery Plan.
"We must do everything we can to help the poorest tax-payers who are likely to be hardest hit by rising mortgage costs, the threat of unemployment, and high fuel and food prices.
"The Government should institute a significant income tax cut for the low and middle income earners. The Liberal Democrats are proposing a 4p cut in the basic rate of income tax, paid for by closing tax loopholes for the rich and an increase in tax on pollution.
"These tax cuts must be permanent; the Government should not cut taxes on the poorest today only to increase them tomorrow."
"In addition to tax cuts, which must be permanent and fully funded, the Government should be prepared to borrow in the short term in order to bring forward capital investment in infrastructure projects.
"I want to see the Government roll out a programme of home insulation, helping to reduce people's energy bills for good, start a programme of social housing building and invest in high speed rail and renewable energy."
Details of the Liberal Democrat Economic Recovery Plan can be found here:
http://www.libdems.org.uk/home/liberal-democrat-economic-recovery-plan-12693499
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