Tax Cuts Must Be Lasting – Terrye Teverson

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Leading Liberal Democrat and KCS Trade Print MD Terrye Teverson has called for income tax cuts to help struggling families weather the recession. Teverson, who is also Parliamentary Candidate for Truro Falmouth Liberal Demcrats said, “Over the last week thousands of letters have been delivered to people in the constituency asking them to back plans for tax cuts on low and middle earners this weekend.

Speaking to a meeting  in Perranarworthal, Teverson said: “People in Truro and Falmouth have endured a year of rocketting fuel, transport and food prices and many were still out of pocket following the government’s decision to double the starting rate of income tax.

“On Monday 24th November, the Chancellor presents his Pre-Budget Report to Parliament, Liberal Democrats will be pressing for permanent tax cuts for people on low and middle incomes. We will be looking for radical changes in the tax system which lock in lower rates of income tax for good.

“To make these tax cuts lasting, they have to be funded. That means shifting the tax burden onto pollution and ending the tax perks and loopholes enjoyed by the highest earners.  Government needs to ask why huge supermarkets like Sainsburys are paying no corporation tax when small companies are paying their fair share.

“We are worried that the Government will simply introduce temporary tax cuts, paid for by borrowing, which will disappear once we start to come out of recession.

“Now is the time for a genuine and radical change to the tax system. Liberal Democrats will be pressing for that and, having spoken to many residents of Truro and Falmouth, I know it is what people here want.

“We believe, however, that an area where borrowing should be allowed is investment in new buildings and facilities that are needed. I am very keen to see people’s homes properly insulated and more affordable homes built for people who need them.  This would help many of our pensioners who are struggling to heat their homes.

“As well as boosting jobs and the economy, it will help to save money in the future.”