Huppert calls for fair Budget and investment in growth
March 20, 2012
Julian Huppert, Member of Parliament for Cambridge, has called for tomorrow’s budget to raise taxes on the rich in order to ease the burden on low and middle incomes.
Julian said: “Tomorrow the Chancellor must announce a package of reforms which make our tax system fairer.
“I want to see the Government go further on the Liberal Democrat plan to give low and middle income workers more of their take home pay. He should extend the rise in the personal allowance to £10,000 now. It is already due to rise to £8,105 this year, from £6,475 when we came to office. Going further and faster will give every worker in Britain, except for the richest, an extra £60 a month.
“The rise in the personal allowance was on the front page of our manifesto and the Government has committed to fulfilling this promise by 2015. I want to see it happen faster. People earning as little as £10,000 a year deserve to keep their money, not have it taken as income tax.
“It is absolutely crucial that we fund this tax cut through tax rises on the richest. If the Chancellor insists on abolishing the 50p tax rate, he must replace it with taxes which are targeted on the rich and raise more money from them than the 50p rate did.
“Whether it’s a tycoon tax, a mansion tax or a clampdown on stamp duty, tax avoidance and loop holes – the rich must pay more, while poor and middle income households must earn more.
“As well as making tax fairer, the budget must protect those out of work, while investing in growth. The Government has already agreed that benefits should go up by 5.2% this year. They should stick to that plan.
“There should also be capital investment in growth areas. In particular, I’d like to see additional investment in science, research and innovation. Such funding would be crucial to a balanced recovery; the Chancellor should commit this Government to growth tomorrow.”