Budget: Government raises income tax threshold
The Chancellor has confirmed the level at which people start paying income tax is to rise. The personal income tax allowance is to be increased by £1,000 in April to £7,475 - worth £170 a year to basic rate taxpayers. The change will not affect higher rate taxpayers.
Delivering his first Budget to the House of Commons, George Osborne said he wanted to allow those on low wages to keep more of their hard-earned money.