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2024-04-26 23:20:39 UTC - HELPFUL

Rated by Participant: 38403A85EC84229BF9F29645581AB9AFA0813CB414620A46FBA2ED273FB158EC
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Original Note:

The UK Treasury has been freezing the Personal Tax Allowance last year and this. Because inflation grows, in real terms the PTA is falling. That’s a tax rise commonly known as fiscal drag. It cancels out much of the National Insurance Cut. Explained here: https://researchbriefings.files.parliament.uk/documents/CBP-9687/CBP-9687.pdf

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