The budget is out. Commentators are commenting, pollsters are polling and parties are...well attacking others and defending their cases. The Liberal Democrats will suffer in May but one of the policies they campaigned heavily on in 2010, and will continue to do so in future elections, is the policy of raising the income tax threshold further in order to help workers on low-pay.
Recall 2010's TV debates, in which Nick Clegg repeated and repeated the policy of promising to put £700 back in the pockets of workers. It’s a popular initiative, one seized on by the Conservatives who last year promised to raise it further after the election.
Back in 2010, the income tax threshold - the level at which one starts paying income tax on their earnings stood at around £6,000 - and since the Liberal Democrats entered into government with David Cameron’s party, that has been raised budget after budget, and as of April this year will stand at £10,600.
This year’s budget will increase it further so that for the year 2017-18 it will stand at £11,000. Of course the Liberal Democrats have made some mistakes in government, and have taken a lot of blame and lost support, but this particular policy is something that they should be shouting from the rooftops, emphasising that it is something they have achieved in government. This is a policy they should take credit for and make the case for more of.
The policy of raising the income tax threshold helps low earners, especially younger people and those struggling with increased costs of goods and services.
Additionally, it’s a popular policy with a recent YouGov poll showing that 83% of respondents support raising it to £11,000, which has been announced.
The budget was presented by George Osbourne, but the Liberal Democrats have definitely had their say as well.