We call on the Government to reintroduce the age-related personal income tax allowance for people of State Pension age, setting it at 110% of the full annual new State Pension and increasing it automatically each year in line with the Triple Lock State Pension.
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Pensioners are more likely to spend additional income in their locally. That spending supports high streets, small businesses and jobs and generating additional VAT and other tax revenues.
The Government should restore the age-related personal allowance for everyone of State Pension age, set it at 110% of the full annual new State Pension, and uprate it annually in line with the State Pension, which should retain the triple lock.