Tories to give tax breaks to married couples
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The Conservatives confirmed plans over the weekend for a tax break for married couples and those in civil partnerships.
Shadow chancellor George Osborne told The Times that one partner of an eligible couple would be able to transfer £750 in tax allowance to the other to reduce his or her income tax bill.
The maximum benefit would be £150 per year and only couples where the main earner takes home between £7,300 and £42,500 would be eligible.
The Tories say the tax cut would be funded by a levy on the banks, which would see the UK push ahead with the bank tax prior to any international agreement.
Osborne said: “I do not make any preachy judgments about individual relationships and there are many single parents doing an absolutely heroic job. It is not about disadvantaging anyone, it is about saying we support commitment in our society. This is modern and progressive.”
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