In Hinckley and Bosworth this welcome news also means that 4,600 low earners will have been lifted out of paying Income Tax thanks to Liberal Democrats in the Coalition Government.
Commenting, Cllr Michael Mullaney Lib Dem Parliamentary Spokesman for Bosworth said: "Liberal Democrats are working for a stronger economy and a fairer society, so that everyone can get on in life so we are cutting taxes for ordinary working people.
"Liberal Democrats want fairer taxes, which is why we made raising the tax-free allowance our number one priority at the General Election - so important that we put it on the front page of our manifesto.
"When times are tough, with rising bills and wages not keeping pace with inflation, we want to give people real, practical help.
"Cutting Income Tax will not deal with all of those problems, but it will help. And I hope it will make a big difference to every family locally."
Commenting further, Michael Mullaney said: "When times are as tough as they are now, our focus must be on helping those on low and middle incomes. That's why we've made delivering on this promise our number one priority in Government.
"It's also why we have scrapped another of Labour's fuel duty rises, so filling up your car will be £7 cheaper than under Labour plans. And why we are cracking down on tax dodgers so that everyone is paying their fair share."