Taxation
The question
To ask the Chancellor of the Exchequer, whether she has considered (a) removing the tapering-off of the personal allowance and (b) reducing the threshold for the additional rate of tax.
Answered by James Murray
The withdrawal of the Personal Allowance affects those with income over £100,000 a year, reducing by £1 for every £2 above this threshold until it is fully withdrawn at £125,140.
The additional rate threshold of income tax is currently £125,140, following its reduction from £150,000 in Autumn 2022. The Government remains committed to maintaining strong public finances and ensuring those on higher incomes contribute a fair share.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →