Monday, 8 May 2017

Southend West Labour candidate, Julian Ware-Lane, welcomes the news that Labour will protect middle and low earners’ incomes

Photo by Gaz De Vere
Julian Ware-Lane


Southend West Labour candidate, Julian Ware-Lane, welcomes the news that Labour will protect middle and low earners’ incomes

A Labour Government will not raise standard rate VAT, personal National Insurance contributions, or Income Tax for anyone outside the top 5% of earners.

Only the highest earners, the top 5% of taxpayers, will be asked to contribute more in tax to help fund our public services that have suffered at the hands of seven years of Tory austerity

"Research suggests that the UK is 103rd out of 112 for wage growth under this Conservative Government, and wages have fallen by 1% a year. This is affecting working families who are squeezed between declining incomes whilst prices are still rising" said Julian Ware-Lane.

"Voters I have spoken to want a Government that is on their side, a Government that understands the lives of ordinary people" added Julian.

"Living standards have suffered since the Tories came to power, with real wages in February still below where they were in May 2010."

"Labour is for the many, not the few. I want to create a fairer and more equal society" said Julian

·         Public services and the welfare state have been slashed to pay for their failing debt reduction programme: Labour will ask the top 5% to pay their fair share to undo the damage of the past seven years.

·         The top 5% of taxpayers in 2014-15 earned over £72,000 according to HMRC. Using the Office for Budget Responsibility’s forecasts for average earnings growth this is expected to be £79,000 by 2018-19. NB this is income per person, not household.

·         Value Added Tax – raised to 20% by the Tories – falls disproportionately on women, who have paid 86% of the overall tax and benefit changes implemented since 2010.

·         Labour's plans to upgrade and transform Britain's economy will be underpinned by a commitment to protect middle and low earners' incomes by announcing a "personal tax guarantee", which will pledge that a Labour Government will guarantee to rule out rises in the following taxes in the next parliament:

• VAT (Standard rate)

• Income Tax on those earning below £80,000 a year

• Personal National Insurance Contributions

Under Labour's plans, 95 per cent of taxpayers will be guaranteed no increase in their income tax contributions and everyone will be protected from any increase in personal National Insurance Contributions and VAT.

Only the highest earners, the top five per cent of taxpayers, will be asked to contribute more in tax to help fund our public services that have suffered at the hands of seven years of Tory austerity.

Only the Labour Party is promising to stand up for working people, the majority in our country, while the Tories have made clear they are determined to carry on handing out tax giveaways to a wealthy few.
                           


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