The Chancellor flounders around, ultimately doing a good thing


Chancellor Alistair Darling has put up the personal tax allowance by £600 – meaning anyone earning up to £40,835 will gain £120 this year.

It would have been impressive if it had appeared in the same budget that abolished the starting rate. Nevertheless, raising the allowances – permanently… – seems to me to be the fairest way to start lowering taxes.

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