Chancellor Raises Personal Tax Allowances

Wednesday, December 5th, 2012

The Chancellor, George Osborne MP, has announced an increase in the amount of money people can earn before they pay tax.

In his autumn statement speech, Mr Osborne said it was part of the government’s goal of supporting people on modest incomes by taking them out of tax.

He said personal tax allowances will rise by £1,100 from next April – making 24 million people £220 a year better off.