Ahmed - "Low paid shouldn't pay any tax"

2.43.36pm GMT Fri 4th Dec 2009

Liberal Democrat candidate for Walthamstow, Farid Ahmed, today welcomed the party's new plans to bring in a fairer tax system.

Under the Liberal Democrats no-one will pay a penny's tax on the first £10,000 they earn each year. The party will take 4 million of the least well off people out of paying income tax.

Liberal Democrats will give every working person a £700 tax cut - that's £1,400 less tax a year for every working couple. Pensioners will each receive a £100 tax cut.

Farid Ahmed said: "Labour has let its friends in the City of London run riot, giving them tax break after tax break and making the poorest pay through the nose instead.

"The Liberal Democrats will make the super-rich pay their fair share of taxation. Hard working people in Walthamstow will each get a £700 tax cut.

"I know how useful working families will find the £1,400 tax cut they will receive from the Liberal Democrats each year. It is only fair."

Along with closing a series of tax loopholes the Liberal Democrats will introduce a mansion tax - a 1% levy on the value of homes worth more than £2m.

Farid Ahmed added: "The very richest in the country currently get away with paying very little. That's not fair, that's why we're introducing the mansion tax to make them pay more."

The Liberal Democrats will replace council tax with a local income tax, based on people's ability to pay. Money raised locally will be spent locally, improving the community we live in.

Farid Ahmed added: "Not only is council tax unfair, penalising pensioners who no longer work, but the money is spent by faceless bureaucrats in Whitehall.

"Under Lib Dem plans what's raised in Walthamstow will be spent in Walthamstow - directly improving our community. What could be fairer than that?"