Alexander Burnett, last week welcomed the announcement by the Prime Minister that the Tory Party would raise the 40p tax rate from £42,000 to £50,000.
Speaking on the final day of the Conservative Party Conference in Birmingham, David Cameron said: “We need tax cuts for hardworking people. Under a Conservative Government, if you work 30 hours a week on minimum wage, you will pay no income tax at all. Nothing. Zero. Zilch.
“But we will do something else. The 40p tax rate was only supposed to be paid by the most well-off people in our country, but in the past couple of decades, far too many have been dragged into it: teachers, police officers. However, with a Conservative government, we will raise the threshold at which people pay the 40p rate. It’s currently £41,900 in the next Parliament - we will raise it to £50,000. No income tax if you are on Minimum Wage. A 12 and a half thousand pound tax-free personal allowance for millions of hardworking people. And you only pay 40p tax when you earn £50,000.”
Alexander Burnett said: “We believe that people who work hard deserve to keep more of the money they earn in their pocket.”