Conservatives deliver tax cuts for workers of Bethnal Green and Bow and more transparency

Conservative PPC Matt Smith welcomed the delivery of over 24 million annual tax summaries to Britain's hard working taxpayers. This Conservative-led government has ensured all taxpayers will receive an annual personal Annual Tax Summary. This will set out how much direct tax they pay and how that money is being spent by the Government.

This will mean many hardworking taxpayers in Bethnal Green and Bow will see exactly how their taxes are being used. Matt Smith backs Conservative plans to cut inefficient and ineffective spending so we can reduce the deficit and cut income tax further.

Annual Tax Summaries will go to everyone who has updated their tax position in the last two years.  

As part of the Conservatives’ Long-Term Economic Plan, income tax has already been cut for 26 million people, with the typical taxpayer’s income tax bill cut by £705 since 2010.

In Bethnal Green and Bow an estimated 52,900 people have already had their income tax cut, with approximately 5,840 low earners already taken out of paying income tax altogether – giving them greater financial security.

The Conservatives have committed to go further after the next election and cut taxes for 30 million people by raising the personal allowance to £12,500, and lifting the threshold at which people pay the higher rate of tax to £50,000.

Matt Smith said:

“As Conservatives we believe taxpayers deserve to know how the Government spends the money they have earned and paid in taxes.

“These new personal tax summaries will deliver exactly that - letting many taxpayers in Bethnal Green and Bow find out how much direct tax they’re paying and what it’s being spent on.

 

"This will mean fairer taxes for everyone, with hardworking taxpayers able to hold politicians to account for how money is spent".