Birdwatch Note Rating
2024-04-27 04:39:10 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 7A2D56502C5AA9B330C429DA861934DE400E079C81CB02065F3ED2560CE268C6
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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