Increase the personal allowance for income tax
We will increase the personal allowance for income tax to help lower and middle income earners. We will announce in the first Budget a substantial increase in the personal allowance from April 2011, with the benefits focused on those with lower and middle incomes.
This will be funded with the money that would have been used to pay for the increase in employee National Insurance thresholds proposed by the Conservative Party, as well as revenues from increases in Capital Gains Tax rates for non-business assets as described below.
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The Coalition: Our programme for government »The Coalition: Our programme for government
Economics »Economics
29. Taxation »29. Taxation
Increase the personal allowance for income tax
Increase the personal allowance to £10,000 »Increase the personal allowance to £10,000
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