Income Tax: Tax Allowances

(asked on 20th February 2015) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what estimate he has made of the cost to the public purse of raising personal tax allowances by 10 per cent.


Answered by
David Gauke Portrait
David Gauke
This question was answered on 26th February 2015

This Government has increased the personal allowance from £6,475 to £10,600 over this Parliament. No estimate has been made of a 10% increase in personal tax allowances. HM Revenue and Customs (HMRC) do publish a ready reckoner of changes to the main rates and thresholds of UK taxes. This does not take into account behavioural change. This is available at:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/403375/20141203_Illustrativechangesbulletinupdated.pdf.

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