Birdwatch Note Rating
2024-04-26 09:35:26 UTC - HELPFUL
Rated by Participant: 5A61AA32CF4D225B764822B744A80C06CB97A652017C33B9C5B5841000AB1A0F
Participant Details
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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