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Increase of £2k in personal allowances

Cannan wants boost to spending

Treasury Minister Alfred Cannan has announced the the biggest increase in Income Tax Personal Allowance in any budget.

The personal allowance for an individual goes up from £10,500 to £12,500 and it rises by £4,000 for a jointly assessed couple.

Mr Cannan said it was time to recognise the contribution from working families and individuals who have been asked to tighten their belts over the past five years:-