UK Cameron Promises Tax Relief if Re-elected

October 1, 2014 Share Print 0

British Prime Minister David Cameron said a re-elected Conservative government would raise the threshold for the country’s 40 percent rate of income tax and allow people to earn more before they start paying income tax.

“I want to take action that’s long overdue and bring back some fairness to tax,” Cameron said to cheers from members of his Conservative Party at its last annual conference before May’s national election.

The threshold for the 40 percent rate would be raised to 50,000 pounds ($80,905) from its current level of 41,900 pounds, he said.

Cameron also said the tax-free allowance for personal income tax would be raised to 12,500 pounds from its current level of 10,500 under a future Conservative government.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.