LOWER TAXES FOR LOWER EARNERS

That this House notes that restoring the 10 pence rate of income tax on all earnings below 12,000 would cost 6 billion pounds a year according to the Library; further notes that this is significantly cheaper, for example, than raising the personal allowance to 12,500, which could cost as much as 14.4 billion, and that it also has the advantage that it could almost certainly be paid for without dragging even more working families into the 40 pence band of income tax; and therefore concludes that restoring the 10 pence rate of income tax is the best way of creating a sustainable living wage in Britain, without hurting jobs or hiking taxes for everyone else.