Deputy prime minister keen to ensure Liberal Democrats, not coalition, claim credit for raising personal tax allowance
Nick Clegg will reveal on Monday that in the spring budget he is pushing for a £500 addition to the personal tax allowance, in a move that would see it rise to £10,500 by April 2015.
The deputy prime minister will say the aim in the next parliament is to raise the allowance so that no one pays any income tax on the first £12,500 they earn.
Clegg is convinced that raising the tax threshold has proved politically popular, and wants to ensure that his party, rather than his Conservative coalition partners, claim credit for the reforms.
George Osborne has endorsed the increases in personal allowances in successive budgets, but the Conservatives are on record at the last election as opposing the tax reform.
Clegg will make the pledge as a distinct Liberal Democrat reform in a speech at the Mansion House on Monday night, in which he will also promise to finish the job of cutting the deficit fairly and say that he can be trusted with the recovery.
He will present his party as the pro-business party, saying it is doing everything it can to protect British trade “as the country’s most – you might argue only – properly internationalist party”.
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