Submitted on Thursday 6th February 2014
Published on Friday 7th February 2014
Current status: Closed
Closed: Saturday 7th February 2015
Signatures: 2
Tagged with
benefit cap ~ Pensions ~ Tax
If we are all in this together, link the benefit cap, state pensions and personal allowance to the average minimum wage
Make the the personal income allowance mean something that is relateable to everyone. Link it to the average minimum wage - £6.31 x 40 per week x 52 weeks per year = £13,125.
The personal allwance would then increase on the basis of this calcualtion as and when the minimum wage increases. Ensuring that those on the minimum wage are lifted out of tax.
Further, the cap on benefits, pensions etc. can also be linked to this calcualtion as a percentage of the total so that it will always pay to work.
By implementing the above proposal we would all truly be in this together as everyone would have a direct link to the minimum wage and therfore a vested interest in it being maintained at a fair level.
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