Income Tax: Tax Allowances

(asked on 11th September 2024) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of raising the personal tax allowance to £15,000.


Answered by
James Murray Portrait
James Murray
Exchequer Secretary (HM Treasury)
This question was answered on 7th October 2024

The previous government announced the Personal Allowance would be maintained at its current level of £12,570 until April 2028.

The government must ensure the tax system supports strong public finances. Sound fiscal policy is key to economic stability and, ultimately, growth, which is vital to keeping taxes as low as possible whilst continuing to deliver excellent public services.

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