Birdwatch Note Rating
2024-05-25 17:52:17 UTC - HELPFUL
Rated by Participant: 73BDB7479C1B4B72C3B95A8A7212BD135F4660A8DD790DB6E202F07510CDAED1
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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