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A fudged budget: the higher personal allowance, instigated by the Lib Dems, fails two key tests

This week’s budget contained few surprises. Least surprising of all was the announcement of a further rise in the income tax threshold for working-age people. From next April, the personal allowance rises to £9,205, generating a tax cut of £220 for all basic rate taxpayers earning more than the current allowance of £8,105. The Liberal Democrats have lobbied hard for this move as part of their “fairness” agenda, arguing that the…

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