AN urgent income tax cut to help pensioners has been called for by West Somerset Parliamentary candidate Theo Butt Philip (pictured).
The Liberal Democrat candidate last week said pensioners’ lost income from interest on savings due to Bank of England rate cuts was a price worth paying for the greater good of the country.
Now, Mr Butt Philip, of Wells, wants the Government to help pensioners who will lose income on their savings as a result of the record-low interest rate.
He said: “While the Bank of England was right to cut interest rates for the sake of the economy as a whole, the Government must take action to help those who will lose out.
“Pensioners who supplement their State pensions with personal savings will be badly hit by the latest interest rate cut.
“The Chancellor should raise the income tax personal allowance so that those on low incomes pay no income tax at all.
“This, combined with abolishing the unfair council tax, would provide much needed relief for those who are suffering.”