I hope this story from the Daily Mirror’s correct.

Workers earning less than £10,000 a year could soon be exempt from paying tax in a bid to boost the economy.

Gordon Brown plans to help millions of low-paid and part-time staff cope with the financial crisis by scrapping their contributions.

At the moment, workers do not pay any income tax on their first £6,035. But chairman of the influential Commons Treasury Committee John McFall said last night boosting the figure to £10,000 was “in the Prime Minister’s mind”.

And he wants Mr Brown to unveil the big increases as the centrepiece of the March budget.

Mr McFall claimed low-paid staff are less likely to save the extra cash and spend it instead – ploughing millions back into the economy.

He said: “We should put money into the pocket of those with the lowest incomes. These are the people who most need our support.

This would also be a fiscal stimulus since this group is most likely to spend rather than save.” Bob Roberts Political Editor of The Daily Mirror.

Hat Tip: Liberal Conspiracy.