Lib Dem tax plans offer fair deal for vast majority in Wales

December 1, 2009 12:33 PM

The Welsh Liberal Democrats today outlined how Liberal Democrat tax proposals will benefit the vast majority of taxpayers in Wales. Lib Dem leader Nick Clegg and Shadow Chancellor Vince Cable launched the fair tax proposals on Monday in London labelling them the "most radical, reforming tax plans from any political party in many years."

Kirsty Williams, Leader of the Welsh Liberal Democrats commented:

"The Lib Dem tax proposals announced yesterday confirm the Liberal Democrats are the only party willing to take action to achieve a fairer society.

"Under the Tories and now under Labour, the gap between rich and poor in Wales has grown wider. Those on low and middle incomes are still being asked to prop up the public finances while the richest few are left to exploit tax loopholes and benefit from generous tax allowances.

"Welsh voters will have a clear choice at the general election. More inequality with Labour, the Tories who refuse to rule out tax rises across the board, or our fairer tax proposals, under which the vast majority of Welsh taxpayers would benefit."

"Under our proposals nobody will pay tax on the first ten thousand pounds they earn, putting £700 in the pockets of anyone earning less than £100,000 a year. In Wales we estimate this will lift approximately 224,000 people out of paying income tax altogether, while the vast majority of others paying tax will save £700 a year."

"The Welsh Liberal Democrats are replacing Labour as the progressive party in Wales. These tax proposals clearly demonstrate our commitment to a fairer tax system and a fairer Wales."

"To fund our fair tax proposals, The Liberal Democrats will close tax loopholes and cut reliefs that benefit the wealthiest, introducing a levy on properties valued over £2m and bringing capital gains tax in line with income tax ratings."

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