TaxPersonal TaxBrown’s taxes hit a million more pensioners

Brown's taxes hit a million more pensioners

Huge jump in number of senior citizens liable for income tax since 1997

Over a million additional pensioners are liable to pay tax to the Treasury
than when Labour came to power.

Estimates in The Times show that while only 3.86 million pensioners
were subject to income tax in 1996-1997, that figure will rise to 5.13 this
financial year.

The rise is blamed on chancellor Gordon Brown’s policy of raising tax
allowances in line with inflation instead of earnings. It is estimated this
policy will also see 100,000 more working people pulled into the top-rate tax
band this year.

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