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2024-04-27 10:53:55 UTC - HELPFUL

Rated by Participant: DC280E4BE64E04EC3C6AE14DA9780EE2FFBAC6C37A7911D6FEA29C5ED31140F9
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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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