11 December 2012
Geoffrey Clifton-Brown welcomes the Chancellor’s removal of some of the poorest people from income tax in the Autumn Statement and asks him if, when economic circumstances allow, he will be even bolder.
Geoffrey Clifton-Brown (The Cotswolds) (Con): As somebody who has had a long interest in exempting some of the poorest people in this country from tax—incidentally, an idea I held long before the Liberals pinched it from me—I congratulate my right hon. Friend on almost achieving this target in his autumn statement. When economic circumstances allow, could he be even bolder?
Mr Osborne: I am proud to be part of a coalition Government of Conservatives and Liberal Democrats who have delivered that policy and are delivering it.
A very substantial increase next year will mean that individuals are £229 better off in real terms as a result just of the increase in April, so that is to be welcomed. As for when we get to £10,000, I have just announced the Budget date and we will have to wait for that Budget for tax decisions, but even if the £10,000 allowance were to increase with our current CPI forecasts from the OBR, it would hit £10,000 in 2015.
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Geoffrey Clifton-Brown (The Cotswolds) (Con): As somebody who has had a long interest in exempting some of the poorest people in this country from tax—incidentally, an idea I held long before the Liberals pinched it from me—I congratulate my right hon. Friend on almost achieving this target in his autumn statement. When economic circumstances allow, could he be even bolder?
Mr Osborne: I am proud to be part of a coalition Government of Conservatives and Liberal Democrats who have delivered that policy and are delivering it.
A very substantial increase next year will mean that individuals are £229 better off in real terms as a result just of the increase in April, so that is to be welcomed. As for when we get to £10,000, I have just announced the Budget date and we will have to wait for that Budget for tax decisions, but even if the £10,000 allowance were to increase with our current CPI forecasts from the OBR, it would hit £10,000 in 2015.
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