Tories are mis-selling tax breaks for the working poor.
Sinn Féin MLA and finance spokesperson Daithí McKay has stated that today’s election promises by David Cameron are quite simply mis-selling their proposed tax breaks for the working poor.
“While David Cameron makes promises on tax cuts it is important to remember who will benefit from this proposed Tory policy.
“The working poor will gain nothing.
“In fact they are one of the main groups to be disadvantaged by Tory welfare cuts.
“In contrast anyone who would earn close to £50,000 has received a double tax break.
“They now won’t be taxed at all on their first £12,500 earned.
“While at the other end they will allowed to earn a further £8,000 before being taxed at the higher rate of 40p in the pound.
“Once again it’s a case of the Tories looking after the well off.
“If the Tories were serious about helping the working poor they could raise by 20% the amounts that a family can earn before benefits are reduced.
“This would exclusively benefit the low paid lifting more working families out of poverty and would cost less than David Cameron’s proposals.
“Couple this with a guarantee of a Living Wage and you are building a road out of poverty for the working poor.
“What we have seen from the Tories is a costly policy which will only benefit the few.”