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Tax Allowance Freeze Hits Millions | Leeds News
The personal tax allowance, frozen at $12,570 for five years, is forcing nearly a million people into higher tax brackets—and hundreds of thousands into income tax for the first time by 2030. New PM calls it a campaign issue that “lodged in his mind,” while experts argue a targeted cut like a penny off employee NI could be more effective than raising the allowance. A petition demanding a $18,000 threshold has hit 40,000 signatures—just 60,000 away from triggering a parliamentary debate. The government counters that such a hike would cost $40 billion annually, threatening public services, and…
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