Allow a once per lifetime Income Tax Holiday

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Allow a once per lifetime Income Tax Holiday

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Create an income tax holiday of 12 months for all of those individuals who have paid income tax for at least 10 consecutive years, without claiming Job Seekers allowance for more than 12 months of that period. This benefit should be up to a maximum of £20,000 - enough for a house deposit on an average priced house in the UK.

This will be a welcome boost to the economy through more disposable income being available in household finances. This will also give those an opportunity to save a house deposit rather than putting a strain on government housing schemes and reward those that have consistently contributed to the state without relying on public handouts.

This benefit should only be available once in a tax payers lifetime and can be taken at any time after the qualification criteria has been met.

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