New Prime Minister Andy Burnham has hinted he could look to raise the threshold at which people start owing income tax.
Burnham has said that the fact that the tax-free allowance had been frozen at £12,570 for five years was the thing he “heard the most on the doorsteps”.
The thresholds at which people start owing income tax have each been frozen since 2021.
Shorts
The freeze was instigated by the Conservatives, but at the last Budget, Labour opted to extend it from 2028 – when it was due to end – to 2031.
