Birdwatch Note Rating
2024-04-26 16:55:51 UTC - HELPFUL
Rated by Participant: D8EF27FD0BE2428F78C4673C374856DE3120EB88F6A46F6B3A54C43E275FCBD7
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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