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Deputy Prime Minister pushes for personal allowance increase to £10,500

Deputy Prime Minister Nick Clegg is calling for a further increase to the personal allowance to £10,500 from next April.

The income tax personal allowance is currently £9,440 and will reach £10,000 next April after rising from £6,475 in 2010.

Speaking to the BBC yesterday, Liberal Democrat leader Clegg said the rise, costing £1bn, should be paid through a tax on the ”super wealthy” but suggested the Conservatives would not agree.

The move, which Clegg branded a “workers’ bonus”, would take 500,000 more people out of paying income tax.

The Liberal Democrats want to increase the allowance to £12,500 during the next parliament and the Conservatives are considering a similar move.

He said the Government would find “other ways” of paying for the rise in the next Budget.

He said: ”Having achieved that great figure, that great threshold of £10,000, we need to go further.

“Because the recovery is finally taking hold, I think it’s very important that as many people as possible feel that they are benefiting from it.”

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  1. We have a national debt of 950% of GDP which if applied to “you or I” would mean individual bankruptcy. For the UK any measure that increase this debt should be deemed negligent. The problem with politician’s is they borrow to buy votes and their vision is set at the next election & the retention of power. The world does not owe the UK a living and a default in debt repayments would mean the end of the welfare state and most of the liberal values Mr Clegg claims to represent.

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