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Budget 2015 live: 40 per cent tax threshold set to be cut for higher earners Budget 2015 live: 40 per cent tax threshold set to be cut for higher earners
(35 minutes later)
George Osborne's Budget will cut the 40 per cent tax threshold for higher earners, it has been reported. Here are the latest updates:
The Conservative manifesto pledged to cut the tax by raising the threshold. It is currently paid by those on incomes of over £42,385. ● Whose pockets will George Osborne pick?● Which benefits will be cut? Here's a chart● 40 per cent tax threshold to go up● Pace of welfare cuts set to slow● Poorer students to lose uni grants● Osborne family '£6m tax have property deal'● Tax credit cuts to affect 7 million children
The Daily Telegraph says the threshold rise will save higher earners as much as £1,300 a year.
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George Osborne had originally announced plans to raise the threshold by the end of the Parliament but appears to be bringing forward his policy. The Conservative manifesto pledged to cut the tax by raising the threshold. It is currently paid by those on incomes of over £42,385.
The Daily Telegraph says the threshold rise will save higher earners as much as £1,300 a year.