New Lib Dem tax package would be good for the people of Bristol says Stephen Williams MP

1.01.01pm BST (GMT +0100) Fri 11th Aug 2006

Local Liberal Democrat MP Stephen Williams has welcomed plans unveiled today for a fairer, greener and simpler tax system.

He said: "These proposals would mean lower tax bills for most households in Bristol, as well as tackling inequality and environmental damage."

Stephen Williams is a member of the Liberal Democrat Tax Commission that drew up the radical new tax plans. He is also a member of the Chartered Institute of Taxation and is one of the few MPs with a financial qualification.

The proposals published today by the Liberal Democrat Tax Commission would -

• Save a typical pensioner couple around £1,600 a year through proposals including scrapping council tax1

• Save a typical double-earning couple around £1,500 a year through measures including a 2p cut in the basic rate of income tax2

• Lift two million people on low income out of tax completely across Britain by reducing the 10p tax rate to zero

• Take 1.3 million people out of the top rate of income tax nationally by raising the threshold to £50,000 p.a.

Stephen Williams said:

"The current system of taxation is not fair. The poorest 20% of households pay a bigger share of their income in tax than the richest 20%. Wealth inequality has actually risen since Labour came to power. These Liberal Democrat proposals will make the tax system fairer for those on low and middle incomes. Specifically this will benefit the vast majority of pensioners, key public sector workers and young professionals.

"These tax cuts for the majority will be paid for by the wealthy and those with environmentally damaging lifestyles. These proposals inject fairness and common sense into our tax system. I look forward to supporting the proposals when they are debated and voted on at the Liberal Democrat Conference in Brighton in September."