Personal Income

HM Treasury written question – answered on 23rd September 2015.

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Photo of David Anderson David Anderson Labour, Blaydon

To ask Mr Chancellor of the Exchequer, what estimate he has made of the maximum number of people whose income will fall as a result of changes to taxes and benefits introduced by the Summer Budget 2015; and if he will estimate the average fall in annual income for those people.

Photo of Damian Hinds Damian Hinds The Exchequer Secretary

The reforms announced at the Summer Budget will ensure that support will be focused more on those on the very lowest incomes and the system will be fairer upon those who pay for it, as well as those who benefit from it. Taking the welfare changes in the Budget together with the record increases in the income tax personal allowance and the introduction of the new National Living Wage, 8 out of 10 working households will be better off in 2017-18.

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