THE PRIME Minister David Cameron and George Osborne, Chancellor of the Exchequer, were in South Gloucestershire on Monday, April 6 to deliver a speech on tax and the economy.

On a day deemed ‘Money-back Monday’, the Conservatives used the opportunity to deliver the party’s key messages on the economy and talk about changes that took effect at the beginning of the week.

In his eight minute speech delivered at the Bristol and Bath Science Park at Emersons Green near Westerleigh, the Prime Minister highlighted the desire to lower taxes.

On Monday changes including raising the personal allowance to £10,600 and giving people freedom over their pension pot took effect.

David Cameron said: “You can now earn £10,600 before you pay any income tax. The effects of that reach right across our country. We’ve taken 3 million out of income tax and overall 26 million are getting a tax cut.”

He also added a pledge that if a Conservative government is returned to power, they would raise the personal tax-free allowance to £12,500 which would result in a typical basic rate taxpayer saving over £1,200.

The Chancellor of the Exchequer also took to the podium to talk about changes to pensions: “Our revolutionary pension freedoms will improve the retirements of millions of people.

Pensioners can now draw down as much or as little of their own pension pot as they want – when they want.”

George Osborne added, “At midnight, the 55 per cent tax rate on withdrawing your pension savings has been abolished – a cut from 55 per cent to 20 per cent for most pensioners. And we also believe you should be able to pass on your pension to your loved ones tax free. So from today, you can.”

Prospective MPs Luke Hall (Thornbury and Yate) and Jack Lopresti (Filton and Bradley Stoke) were at the science park to welcome the Prime Minister and George Osborne and discuss the changes with them after the event.

He said: “I was delighted to welcome the Prime Minister and Chancellor of the Exchequer to South Gloucestershire today.

“The changes that they talked about will mean that real benefits will be felt by residents across this area. They’ll be taking more money home and have greater control over their personal finances in retirement.

“Their visit here also demonstrates the importance of this constituency to the national result, David Cameron needs to win 23 more seats to form a majority government, and Thornbury and Yate is one of them.

“If we can do that, we can continue with our economic reforms that are enabling residents of South Gloucestershire to keep more of their own money, as we’ve heard today.”