The personal allowance increase to £9,205 is a massive leap too.
I haven't seen any figures yet, but I have seen a report that suggests that whilst the personal allowance went up to £9,205, the threshold for paying 40% tax went down by even more than the allowance went up and that the 40% tax band now starts at just £41,450.
If so, then I'm not sure exactly how much we will save. I would dearly love to know what this government considers the definition of weathy or rich actually is. Because the middle are yet again going to get hammered if this is the case. Oh to be a tycoon and have to be forced to pay a whole 20% rate of tax.
