Tax Cuts Promised by Cameron

Are the Tories targeting more of a ‘traditional Labour’ audience? You would be forgiven for thinking so with David Cameron’s latest election campaign speech.

The Prime Minister has put middle-class tax cuts at the heart of his election campaign by saying that “the people in between” would be made better off with this pledge.

Fightback

The speech from the Prime Minister marked a fightback from the Tories against Labour and their leader Ed Miliband who firmly believes that the Tories have gone too far by promising “unfunded tax cuts” to the tune of £7 billion for the lower paid and middle classes.

David Cameron has also linked tax cuts with welfare reform, attacking the apparent lie that people would be better off by paying higher taxes to support their generous benefits.

Speaking about this “lie”, the Prime Minster said: “Our solution is simple: take less of their money in the first place, that’s how we truly help people — by rewarding hard work.”

This is likely to please a number of people but as many of us know, when it comes to the General Election, politicians will say things that they think will win them votes.

It’s also worth noting that a major study from the London School of Economics (LSE) and other universities has found that the poorest in society have been worst affected by tax and benefits changes. It claimed the Government’s vows that the rich should contribute proportionately more to repairing the nation’s finances “have not been realised”.

It’s a Wrap!

That’s it for this blog post, folks. Don’t forget, here at K A Farr Chartered Accountants, we’re only a phone call away if you have any questions.

You can contact us on info@kafarr.co.uk and also on 01704 211434 and we’ll be happy to assist you.