Mark Prisk MP has welcomed the news that families across Hertford, Bishop’s Stortford, Ware and Sawbridgeworth can look forward to having more money in their pockets thanks to new UK Government measures coming into effect this week.
• 32 million people will receive an income tax cut, including 51,018 people in Hertford and Stortford, meaning hard workers can keep more of what they earn.
• Fuel duty is frozen for the ninth successive year, saving the average car driver £1,000 by 2020 compared to Labour’s plans.
• Pensioners in Hertford and Stortford have their full State Pension raised by 2.6 per cent this year, meaning they will get nearly £170 more a year.
From the start of the new tax year at the weekend, the personal tax allowance increased to £12,500, a boost of £650 – almost double what it was under Labour. This means a basic rate taxpayer will pay a whopping £1,200 less income tax than they did in 2010.
From 1 April the National Living Wage rose again, from £7.83 to £8.21 - a 4.9 per cent increase. This hands a full-time worker a £690 annual pay increase and takes their total pay rise, since the introduction of the National Living Wage, to over £2,750 a year.
Mr Prisk said:
The Conservatives have always been committed to keeping taxes down so people can keep more of their hard-earned money. These measures are great news for tens of thousands of people in Hertford and Stortford who will see a bit more money in their pockets at the end of the month.
We can only continue cutting taxes and increasing pay through the Conservatives' balanced approach to our economy.