Taxation

Treasury written question – answered on 14th September 2018.

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Photo of Jack Lopresti Jack Lopresti Conservative, Filton and Bradley Stoke

To ask the Chancellor of the Exchequer, what progress the Government has made on reducing taxes for working families.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

To support working families, the Government has committed to raise the income tax personal allowance to £12,500, and the higher rate threshold to £50,000 by 2020.

We have taken significant steps towards meeting these commitments: in April, the personal allowance increased to £11,850, and the higher rate threshold to £46,350.

This means a typical basic rate taxpayer will pay £1,075 less income tax this year than in 2010-11.

Increases to the personal allowance and higher rate threshold have benefitted over 31 million individuals since the start of the last parliament.

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