NEWS


  • 32 MILLION TO PAY LESS INCOME TAX AS FINANCE BILL RECEIVES ROYAL ASSENT

    Mel Stride

    CENTRAL DEVON MP Mel Stride has spoken of his pride at the Finance Bill 2018-19, which he steered through the House of Commons, receiving royal assent this month. The bill will result in 32 million people paying less income tax and introduces further measures to crack down on tax avoidance and evasion.

    Mr Stride, who serves as Financial Secretary to the Treasury and Paymaster General, said: 

    “With wages growing at their fastest pace in over a decade, the income tax changes in the Finance Act will ensure that people can keep more of their hard-earned cash. This act comes in against a backdrop of the highest wage growth in a decade, a deficit cut by four fifths since 2010, and nine consecutive years of economic growth. A basic rate taxpayer will pay over £1,200 less income tax than they did in 2010, giving people more help with the cost of living. As well as cutting taxes for millions of people a year earlier than promised in our manifesto, fuel duty has been frozen for a ninth year in a row, and beer, cider and spirits duty have also all been frozen.”







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