This article was last updated on April 16, 2022
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U.K. Independence Party has set out taxation plans as a part of its “blue collar platform” manifesto ahead of the general election 2015 with the pledge to abolish income tax for low earners.
The new move is introduced to enter the next general election’s race with the aim to take low earners out of income tax entirely.
Party leader Nigel Farage has told that party’s planned policies would ensure that people “get out and spend” and “actually help to get the economy going”.
Mr Farage had confirmed during the previous month regarding party’s refusal to back the single rate of income tax for all and was reconsidering its economic policies.
In 2010, when he was not leader, it supported a “flat tax”, which it said would be set at 31% and would be achieved by merging income tax and national insurance.
The Ukip’s policy unit chief, MEP Tim Akers has told the fresh move was intended to make low earners’ lives “easier and simpler” by taking them out of income tax altogether with “no tax on the minimum wage.”
According to the policy, the starting point of income tax has been pushed to around £12,500, and cost the Exchequer “around £12 billion”. It ultimately means to take another 2.9 million people out of income tax and giving a tax cut to around 28 million individuals.
UKIP would also make the 40p rate the top rate of tax, which people would start to pay once they earned £45,000 – a policy that Mr Akers says will “stop George Osborne’s fiscal drag for middle earners.”
Mr Akers has also added that the party was “firmly against” the bedroom tax and the manifesto will also include the plans that would see migrants ineligible for any welfare benefits until they pay tax and national insurance for five years.
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