Wednesday 10 April 2019

Newspaper column 10 April 2019 - Keeping more of the money you earn


As I write this Brexit continues to dominate proceedings in Parliament. The situation is changing on a day by day basis. Last week things took several even more bizarre turns when firstly we had protestors gluing themselves to the public gallery windows while not wearing any clothes, followed by a leak in the Chamber, which meant Parliament had to rise early on Thursday in order to fix it, delaying the tabling of some business for this week.

Away from Parliament, last week saw excellent news as the amounts people can earn without having to pay tax went up again, the National Living Wage increased and fuel duties were frozen at the beginning of the new financial year.

The Personal Allowance went up to £12,500. The Personal Allowance is the amount you can earn before you have to pay Income Tax. You don’t have to pay income tax on the income you earn below this amount. As a result of the change, a typical basic-rate taxpayer will take home £130 more than in 2018-19.

Getting the Personal Allowance to £12,500 was a Manifesto Commitment of this Government and I am pleased to have seen it delivered one year earlier than previously planned.

As well as this we also saw the biggest ever increase to National Living Wage coming into effect from 1 April. Nationally, 1.8 million workers earning the National Living Wage will receive an additional £690 over the year from 1 April onwards.

This includes £7.70 per hour for 21 to 24-year olds, providing an additional £580 over the year for full-time workers, and £6.15 for 18 to 20-year olds, providing full-time workers with an additional £455 over the year. Taken together with changes to NLW, 2.1 million people will be receiving a pay increase, with workers in the retail and hospitality sectors due to benefit the most.

To put this into perspective, full-time workers receiving the National Living Wage will be more than £2,750 better off a year compared to 2015, when the rate was first announced.

As well as putting more money in your pocket and increasing the amount many people earn, the start of the new financial year also saw Fuel duty remain frozen for the ninth year in a row. This will remain at 57.95 pence per litre across the UK. This saves the average car driver £1,000.

This is all good news, allowing people to keep more of the money they earn and generating more money to put back into the economy and benefit everyone.

My team and I are here to serve the whole constituency and work hard to make a real difference to the lives of everyone needing support. The office is open to the public Monday – Friday 10.00am – 4.00pm (no appointment necessary). If there is an issue you would like my assistance on then please, either visit the office or contact me on either 01726 829379 or office@stevedouble.org.uk. Additionally, I hold regular, appointment only, advice surgeries across the constituency. Dates of these can be found at: www.stevedouble.org.uk/events