General Election 2010: Conservatives to give four million married couples a tax break
Four million married couples are to be offered tax breaks worth up to £150 a year under Tory proposals to be unveiled by David Cameron.
by Andrew Porter and Robert Winnett
Telegraph [UK]
9 Apr 2010
Wives or husbands who do not work will be able to transfer part of their tax-free allowance to their spouse — if their partner’s income does not exceed £44,000 [$67,600].
In total, the tax break – which Mr Cameron hopes will emulate the success of the party’s plan to reverse Labour’s National Insurance rise — would be worth up to £150 [$230,500] a year for low and middle-income families, the Tories claim.
The partial reintroduction of the “married couple’s allowance” is intended to help women who give up work to look after their children.
It also likely that it would be welcomed by many retired couples where only one person has a pension or other type of income.
The break would not be available to higher-rate taxpayers. It is estimated that it would benefit about four million of Britain’s 12.3 million married couples…
The article continues at the Telegraph.
At the Times of London:
Tories to hit banks for marriage tax breaks
George Osborne unveils a tax break for married couples today, funded by a levy on banks that the Conservatives hope will “seal the deal” with the electorate.
The Shadow Chancellor tells The Times that the tax cut, also available to those in civil partnerships, will help people on lower incomes the most and is “modern and progressive”. He insists that promoting marriage in the tax system is not preachy but says “a society where more people are married is a stronger society”.
Only a third of Britain’s 12.3 million married couples would benefit. Those who would gain the most advantage would have one partner on a low to middle income and one without a wage…
This article continues at the Times.
