text: David Cameron will say that high taxes are 'immoral' as 14 million working households receive a tax cut . David Cameron will say today that high taxes and wasteful government spending are ‘immoral’ as millions receive a tax cut. As 14million working households – more than nine in ten – are given an average boost of £200 a year to their incomes, the Prime Minister will set out the Conservative case for people keeping more of their own money – because they ‘know best’ how it should be spent. And he will make a bold argument for continued lower taxes, with less spent on ‘bureaucracy’ and ‘crackpot Government schemes’. ‘There is no such thing as public money, there is only taxpayers’ money,’ he will say. ‘And we believe it’s people – not politicians – who know best how to spend their own money. And that’s what today is all about.’ He will add that it is ‘wrong – frankly immoral – for Government to spend money like it grows on trees’. Among the raft of changes coming into effect today, on what Mr Cameron will dub ‘money back Monday’, are: . Other measures to encourage saving will also begin, with the Isa limit increasing to £15,240 and the 10p savings tax band abolished. Treasury analysis shows the changes will benefit 14million working households to the tune of £17 a month. And nearly million pensioner households – more than nine in ten – will benefit by £15 a month. Middle income households earning around £23,000 a year will benefit the most, and the top ten per cent of earners the least. Today will also see the abolition of the old pensions annuities, allowing retirement money to be accessed like a current account. Mr Cameron will say the changes make Britain a ‘better and fairer place to live’, adding that low taxes ‘go to the heart of what I believe as a Conservative. ‘For me, there’s the economic case: That, in a competitive world, we need to incentivise work by making it pay. ‘There’s the progressive case: That the best way to help with living standards is to let people keep more of the money they earn. ‘But above all, there is the moral case: That it is wrong – frankly immoral – for Government to spend money like it grows on trees.’ He will also pledge to eliminate the deficit ‘without reaching into working people’s pockets like Labour would’. However, in a speech in Yorkshire, Shadow chancellor Ed Balls will point to figures from the Institute for Fiscal Studies showing families are £1,100 a year worse off over the past five years as a result of government tax and spending changes. And he will warn that the Conservatives will raise VAT. Mr Balls will say: ‘David Cameron and George Osborne are going round the country telling people they’ve never had it so good. How out of touch can they get? ‘The truth is millions are worse off because of this government’s choices. ‘And while millions are paying more, millionaires are paying less. Two years ago today they gave the top one per cent of earners in our country a £3billion a year tax cut.’ Shadow chancellor Ed Balls will point to figures from the Institute for Fiscal Studies showing families are £1,100 a year worse off over the past five years as a result of government tax and spending changes . The Lib Dems said that the changes to income tax had been part of their manifesto and said Labour would cost 24million taxpayers £340 a year. Deputy Prime Minister Nick Clegg will say today: ‘In government, we secured a tax cut totalling £825 every year for millions of ordinary working people. We now plan to take this further, raising the [tax-free personal allowance] threshold to £12,500 and giving millions of people a further tax cut worth nearly £400.’
target: More than nine in ten working households will receive a tax cut from today .
  Personal allowance rising to £10,600 - putting extra £17 a month in pockets .
  Cameron due to set out case for people keeping more of their own money .
  He will argue for continued lower taxes, with less spent on ‘bureaucracy’
  A rise in the personal allowance from £10,000 to £10,600.
  The first increase in the 40p higher threshold – in line with inflation – for five years.
  The £1,060 Marriage Tax allowance, which benefits traditional couples where one parent does not work.
  A one per cent increase in working age benefits.