Clegg: Income tax moves will help working families

Deputy prime minister Nick Clegg outlines his plans to do more to help support working families:

"Whether you call them the 'squeezed middle', 'hard-working families', or, as I have, 'alarm clock Britain', cutting income tax is one of the most direct tools we have to ease the burden on low and middle earners.

"At the last election my party promised to raise the personal allowance to £10,000 for ordinary taxpayers.

"And I am extremely proud that the coalition is on track to do so over the course of this parliament.

"We'll make sure that anyone earning £10,000 or less will pay no income tax at all and for those on middle incomes, the first £10,000 they earn will be tax free.

"But today I want to make clear that I want the coalition to go further and faster in delivering the full £10,000. Because, bluntly, the pressure on family finances is reaching boiling point."