Elwyn Watkins - "Low paid shouldn't pay any tax"

11.46.20am GMT Thu 3rd Dec 2009

Liberal Democrat candidate for Oldham East & Saddleworth, Elwyn Watkins, today welcomed the party's new plans to bring in a fairer tax system.

Under the Liberal Democrats no-one will pay a penny's tax on the first £10,000 they earn each year. The party will take 4 million of the least well off people out of paying income tax.

Liberal Democrats will give every working person a £700 tax cut - that's £1,400 less tax a year for every working couple. Pensioners will each receive a £100 tax cut.

Elwyn Watkins said: "Labour has let its friends in the City of London run riot, giving them tax break after tax break and making the poorest pay through the nose instead.

"The Liberal Democrats will make the super-rich pay their fair share of taxation. Hard working people in Oldham East & Saddleworth will each get a £700 tax cut.

"I know how useful working families will find the £1,400 tax cut they will receive from the Liberal Democrats each year. It is only fair."

Along with closing a series of tax loopholes the Liberal Democrats will introduce a mansion tax - a 1% levy on the value of homes worth more than £2m. This would apply primarily to wealthy people in London and the South East.

Elwyn Watkins added: "It is completely unfair that the very richest in the country often get away with paying very little, while the lower earners pay a hefty chunk of their income in tax. That's not fair, that's why we're introducing the mansion tax to make the very richest pay more."