Labour's budget makes tax system even more unfair

6.34.00pm GMT Wed 24th Mar 2010

Jo Swinson MP has slammed today’s Budget for failing to help those less well off by making the tax system fairer.

Chancellor Alistair Darling announced that the personal income tax allowance would be frozen, meaning the amount of people’s income which is non-taxable will fall in real terms.

The Government once again promised to get banks lending to small businesses, however banks bailed out by the taxpayer have so far failed even to meet their targets for lending to small businesses.

The Chancellor said public sector net debt would reach 54% of GDP this year, increasing to 75% in 2014/15.

Commenting, Jo Swinson said:

“This budget was an opportunity to make taxation fairer for the poorest in our community, but once again Labour has blown it. By freezing the level of personal income tax allowance, the Government is yet again making an already unfair system even more unfair. People in East Dunbartonshire have still not forgiven Gordon Brown for doubling the 10p tax rate.

“The Government has continually failed to get RBS and Lloyds HBOS lending to sound Scottish businesses – why should we believe them when they say they’re going to start now?

“Labour will leave us in an economic hole, and only Vince Cable and the Liberal Democrats have a viable plan for getting us out of it.”

Notes:

For more information on Jo Swinson’s actions on the economy, visit http://www.joswinson.org.uk/economy