Thursday 23 April 2015 6:21 am

At home and abroad: Global numbers that matter and key election pledges

By: Express KCS

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KEY ELECTION PLEDGES

• Raise the level at which people start paying income tax to £12,500 a year, from £10,600, and introduce a law to ensure no one on the minimum wage will pay income tax.
• Raise the threshold at which people pay 40 per cent income tax to £50,000 by 2020, from £42,385 today.
• Exempt family homes from inheritance tax by introducing a new transferable main residence allowance of £175,000 per person.
• Reduce tax relief on pension contributions for people earning more than £150,000.

• Raise income tax to 50 per cent for those earning over £150,000 per year.
• Bring back the 10p rate of income tax.
• Introduce a “mansion tax” on properties worth more than £2m.
• Levy a tax on bank bonuses.
• Restrict tax relief on pension contributions for the highest earners.

• Raise the income tax personal allowance to £11,000 from April 2016, and then to £12,500 after deficit reduction is complete.
• Increase the highest rate of capital gains tax from 28 per cent to 35 per cent.
• Introduce a “mansion tax-lite”, a staggered charge on homes worth more than £2m.
• Launch a review to consider a single rate of tax relief for pensions.

• Increase the personal allowance to £13,000.
• Create a new 30 per cent income tax rate for those earning between the current higher rate threshold and £55,000.
• Abolish inheritance tax entirely.
• Make it a criminal offence to cold call someone in respect of pension arrangements.