Today I listened to residents who were in favour of tax cuts, especially the cuts announced in the manifesto earlier today.
In particular:
- Cutting taxes for working people. We will cut tax for workers by taking another 2p off employee National Insurance so that we will have halved it from 12 per cent at the beginning of this year to 6 per cent by April 2027, a total tax cut of £1,350 for the average worker on £35,000 – and the next step in our long-term ambition to end the double tax on work when financial conditions allow.
- Cutting taxes for the self-employed. We will cut taxes to support the self-employed by abolishing the main rate of self-employed National Insurance entirely by the end of the Parliament.
- Cutting taxes for pensioners. We will cut tax for pensioners with the new Triple Lock Plus, guaranteeing that both the State Pension and the tax-free allowance for pensioners always rise with the highest of inflation, earnings or 2.5 per cent – so the new State Pension doesn’t get dragged into income tax.
Most of my residents are hard working people. They want to keep more of their money. Hard working people feel they have been left behind. They pay into a system, but do not get anything out if. They do not see the value that their tax should provide.
If you have an issue or a view with our taxes, please get in touch with my office.
Sidney Yankson
