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‘Over a million people in Wales to benefit from tax cut’ – Response to Autumn Statement

December 5, 2012 2:36 PM

Responding to today's Autumn Statement, Kirsty Williams, Leader of the Welsh Liberal Democrats commented:

"Thanks to the Liberal Democrats influence in Government, over a million people in Wales will be benefiting from today's tax announcement. The Tories may have their own priorities, but the Liberal Democrats are ensuring that those on lower and middle incomes are keeping as much of the money they earn as possible

"As a result of the spending decisions made today, the Welsh Government will benefit from an additional £227 million of capital spending. This is a huge amount of investment that has been made available and means the Welsh Government's spending power will increase significantly. Rather than constantly moaning about their budget, the Welsh Labour Government must now put the people of Wales first by taking decisive action to get our economy moving.

"The Welsh Liberal Democrats have been lobbying both the Welsh and UK Governments to ensure that Enhanced capital allowances will be made available at both Ebbw Vale and Haven Waterway enterprise zones to support growth and investment. It is fantastic news that this has been delivered. The Welsh Labour Government have hidden behind the lack of on Enhanced Capital Allowances for too long - they can hide no longer. Welsh Government assessments suggest that this measure could provide more than 1,000 jobs. The Welsh Liberal Democrats will be working to hold this Welsh Government to account to ensure they are true to their word and deliver jobs."

Mark Williams, Welsh Liberal Democrat Spokesperson on Welsh Affairs commented:

"Today's Autumn Statement brings good news for Wales. The Liberal Democrats are ensuring that the policies that were in our manifesto are being made a reality. Alongside ensuring that 13,000 of the lowest paid workers in Wales will be taken out of paying income tax altogether, 640,000 pensioners in Wales will also benefit from an additional increase in the State Pension. I'm sure that people will remember Labour's pitiful 'increases' in the state pension when they were in Government.

"I welcome the cancelling of the Fuel Duty rise which will help owners of the 1.8m motor vehicles in Wales, saving a typical driver £40 a year and a haulier £1,200 a year. This will go a long way in helping people across Wales, especially those in rural areas.

"The Liberal Democrats are building a stronger economy and a fairer society - so that every person in Britain is able to get on in life. That is why this Autumn Statement takes the tough but fair decisions needed to fix the economic mess left by Labour, bring the deficit down, maintain our international credibility and create a platform for jobs and growth."

ENDS

Notes:

Notable content in the Autumn Statement that will benefit Wales:

  • 13,000 people to be lifted out of income tax and 1.1 million to pay less income tax as a result of Personal Allowance reforms.
  • Cancelling the planned rise in fuel duty in January will reduce running costs for the 1.8 million motor vehicles in Wales, saving a typical motorist £40 a year.
  • As a result of spending decisions at the Autumn Statement the Welsh Government will benefit from an additional £227m of capital spending.
  • £38 million research partnership for the Swansea University Energy Safety Research Institute
  • Newport to be in the second wave of super-connected cities.
  • Business support measures will benefit 193,000 small and medium enterprises in Wales.
  • 100 per cent capital allowances for investment in plant and machinery will be made available at designated sites in the Ebbw Vale and Haven Waterway Enterprise Zones, to support investment that could provide more than 1,000 jobs.
  • 640,000 pensioners in Wales will benefit from an additional £2.70 a week increase in the State Pension;
  • A further 1% reduction in the main rate of Corporation to 21% in April 2014 will help business across Wales;
  • A significant temporary increase in the Annual Investment Allowance from £25,000 to £250,000 for 2 years from January 2013 will help small and medium sized businesses across Wales;
  • Cancelling the Fuel Duty rise planned for January 2013 will help owners of the 1.8m motor vehicles in Wales, saving a typical driver £40 a year and a haulier £1,200 a year.