Income Tax: Tax Allowances
(asked on 24th February 2016) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether he plans to increase the personal allowance during this Parliament.
This question was answered on 1st March 2016
The Government is committed to raising the income tax personal allowance from £10,600 to £12,500 by the end of this parliament. This is alongside our commitment to raise the higher rate threshold to £50,000. Over 30 million individuals will benefit from these changes.
Summer Budget 2015 confirmed that the personal allowance will increase to £11,000 in 2016-17, and £11,200 in 2017-18.