Birdwatch Note Rating
2024-04-27 10:19:42 UTC - HELPFUL
Rated by Participant: C2942CB90849AD8994F5282684D88C0CDCC2F3C3D5A89A2D7C36A5A37895F6DE
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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