Birdwatch Note Rating
2024-04-26 10:10:10 UTC - HELPFUL
Rated by Participant: 9FBF5C5E6AD901EE6F64B97B44066809352EC484838D25E1983A381A79619BF9
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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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