Written by ROB SMYTH
FURTHER details have been released about how last week’s Budget will impact the lives of people in Burton.
A rise in the level of personal income tax allowance to £10,500 will see 38,369 in the town pay lower taxes.
It will also mean that 489 people will be taken out of paying income tax altogether.
Burton’s MP Andrew Griffiths has said that the new tax cut was a ‘just reward’ for people in Burton.
He said: “This tax cut is excellent news for hard-working people in the town.
“It will mean lower taxes for around 38,369 people here in Burton, with 489 people taken out of income tax altogether.
“That means 38,369 people keeping more of the money they’ve worked hard to earn, giving them and their families more financial security for the future.”
From April 2015, personal allowance will rise to £10,500, cutting taxes for 25 million people in the UK and taking another 290,000 people out of paying income tax altogether.
Rises in the personal allowance since 2010 means that by April next year, a typical basic rate taxpayer will be paying £805 less in tax than they would have been, with 3.2 million people throughout the country taken out of paying income tax altogether.
This booster for people in the town comes at the same time Chancellor George Osborne announced a beer duty cut for the second successive year last week. The 1p cut was widely welcomed by Burton’s MP and major figures across the beer and pub industry.
Mr Griffiths said: “This is a budget that is good for Burton breweries and pub companies and I am thrilled. It has completely exceeded my wildest expectations.
“We were pleased when we got the cut last year and a repeat this year is absolutely fantastic and will mean breweries and publicans can invest in the brewing industry long term.
The annual allowances for paying into an Individual Savings Account (ISA) will also go up in April, in a move which will be a boost for savers in the town.