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Rachel Reeves faces calls to change personal tax allowance threshold
More than 6,800 people signed a petition calling for inflation-adjusted income tax thresholds to boost disposable income and reduce reliance on government aid.
- Reported by the Daily Record, a petition on the Petitions Parliament website, created by Andy Hobson, urges raising the Personal Allowance to 15,597 and the higher rate to 62,379.02, attracting over 6,800 signatures.
- Amid complaints of 'fiscal drag', the UK Government confirmed the Personal Allowance will remain frozen at 12570 until April 2030, despite inflation.
- HMRC has been urged to increase both the basic and higher personal tax-free allowances to 15,597 and 62,379 respectively, as Martin Lewis explains the allowance is tax-free income.
- Should it hit 10,000 signatures, the UK Government must respond in writing, and at 100,000 signatures, the Petitions Committee may consider a debate, petitioners contend.
- Supporters argue raising allowances would give more people money for bills and boost consumer spending, which could increase VAT receipts, Andy Hobson suggested.
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The Herald Scotland+26 Reposted by 26 other sources
HMRC responds to calls for personal allowance to increase from £12,750 to £20,000
HMRC has responded to calls to increase everyone's personal allowance from £12,750 to £20,000, following a petition signed by more than 60,000…
·Scotland, United Kingdom
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Coverage Details
Total News Sources31
Leaning Left2Leaning Right1Center25Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
C 89%
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