Income Tax
(asked on 29th January 2019) - View Source
Question to the HM Treasury:
What progress he has made on reducing the amount of income tax that people pay.
This question was answered on 29th January 2019
The government is committed to keeping taxes low to support working people keep more of what they earn.
Budget 2018 announced that the government will increase the personal allowance to £12,500 and the higher rate threshold to £50,000 from April 2019, one year earlier than planned.
This tax cut means, in 2019-20, a typical basic rate taxpayer will pay £1,205 less in tax than in 2010-11. Across the UK, 1.74 million of the lowest paid will be taken out of tax entirely since 2015, leaving more of their hard-earned money in their pockets.