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Clause 3 — Abolition of starting and savings rates and creation of starting rate for savings

Part of Orders of the Day – in the House of Commons at 10:00 pm on 28th April 2008.

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Photo of Jane Kennedy Jane Kennedy Financial Secretary, HM Treasury 10:00 pm, 28th April 2008

I am going to turn to the points that have been made.

The 10p starting rate of tax to be removed in clause 3 was introduced in 1999 as part of long-term reforms, and was part of the initial process to help support low-income households. However, with the measures that have been introduced since 1999, particularly the introduction of the national minimum wage and the subsequent introduction of tax credits, we can now better target our resources on low incomes.

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