Tax cuts for all – what I want in the next Parliament

I made the case for tax cuts for all in the work I did for the Conservative Manifesto. We already know that tax cuts will figure prominently in that Manifesto. They will include

Raising the tax threshold before you pay any income tax to £12,500. This will take more people out of tax, and cut the tax bills of most people.

Raising the threshold before you have to pay 40% tax, taking it up from £42,000 to £50,000. This will help a lot of Wokingham voters, who are over or near to the current 40% threshold.

Ruling out any new Mansion tax on more valuable homes.

I also wish to see the Chancellor cut the top rate of Income tax from 45% to 40%, and remove the anomaly that puts some higher paid people onto a marginal tax rate of 60%.

I support hard work and effort, and want people to earn their rewards for what they do. I am glad the Conservatives have adopted my proposal on the 40% tax threshold, and am happy with further increases in the Standard rate threshold as a means of making work more worthwhile.

Tax cuts for all are what we need.

 

JOHN REDWOOD    SPEAKING FOR WOKINGHAM    SPEAKING FOR ENGLAND

Published and promoted by  Thomas Puddy for John Redwood, both of 30 Rose Street Wokingham RG40 1XU

 

This entry was posted in Wokingham and West Berkshire Issues. Bookmark the permalink. Both comments and trackbacks are currently closed.

2 Comments

  1. Posted April 2, 2015 at 9:24 am | Permalink

    Tax cuts aren’t going to happen when you have a 10 trillion plus debt to pay off will they.

    • Posted April 2, 2015 at 10:01 pm | Permalink

      Why not? The debt is close to 100% of GDP which sounds a lot but it’s no different to someone earning £40k pa after tax (£60k pa before tax) having a mortgage of the same amount. That is if you say that the debt belongs to all of us and not just the government. Which it does, IMO.

      That person will have real assets to compensate for his financial liabilities, just like the Government owns real assets too. I don’t know about anyone else but I’ve been in much deeper debt than that personally.

      We do need tax cuts to get the economy moving again. A healthy economy will generate more tax revenues. A healthy economy will mean that there’ll be no shortage of lenders wanting to safely park their money somewhere. Alternatively if we adopt austerity economics we ened up like Greece with a sick economy and and a CCC credit rating anyway.

      Ironically, if that were to happen, and we did attract more lenders, our debt would increase but it still wouldn’t be a problem. Just think of the UK as a giant bank. People want to put their money in the bank. They want to lend to the bank.

      Does the bank turn them away on the grounds they don’t need to borrow any more?

  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

  • John’s Books

  • Email Alerts

    You can sign up to receive John's blog posts by e-mail by entering your e-mail address in the box below.

    Enter your email address:

    Delivered by FeedBurner

    The e-mail service is powered by Google's FeedBurner service. Your information is not shared.

  • Map of Visitors

    Locations of visitors to this page