Weekend 30 November 2024
3 hours ago
Thursday, 6 December 2007
How will the BBC spin this in April?
The new tax year in April will see the doubling of the tax rate paid by the lowest earners in the UK. Anyone with an income of between £5,500 and £8,000 will pay tax at 20% rather than 10% on that taxable income. Another genius decision by Gordon Brown but I am sure the BBC would spin it away...
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I remember reading at the time that the new tax rates will actually have a negative effect on anyone earning less that 19,000.
I'm not certain how the tax credits system will deal with this and cannot find any info. I will guess that everyone who gets those tax credits will have exactly the same amount of money - but they will be that little bit more reliant on the state for their income and they'll be easily sold a labour rosette come polling day.
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