Petition calls for higher tax-free allowance for pensioners
Summarised from 2 outlets · Updated 9 Oct, 16:07 · Archive
A petition calls for pensioners to receive a higher tax-free Personal Allowance linked to 110% of the full new State Pension.
A petition created by Stewart Wilks calls on the Government to restore a higher tax-free allowance for people of State Pension age. Under the proposal, the Personal Allowance threshold would be set at 110% of the full new State Pension, rather than the current standard level of £12,570 a year. The allowance would rise automatically each year in line with the State Pension triple lock, which increases payments according to whichever is highest of earnings growth, inflation or 2.5%.
The campaigners argue that giving pensioners more tax-free income would help older people manage their finances while supporting local shops and businesses. They say pensioners are more likely to spend additional income locally, helping high streets, small businesses and jobs while generating extra VAT and other tax revenues.
Prime Minister Andy Burnham said at the Labour Party Conference: 'I can also confirm today our commitment to ensure that the low-income pensioners won't be dragged into paying income tax in this Parliament.' The petition needs 10,000 signatures to trigger a Government response.
How it is being reported
- Pensioners could get a bigger HMRC tax-free Personal Allowance under new callsA new petition calls for pensioners to get a bigger tax-free allowance, set at 110% of the full new State Pension and increased annually.Worcester News · 9 Oct, 15:20
- Pensioners could get a bigger HMRC tax-free Personal Allowance under new callsA new petition calls for pensioners to get a bigger tax-free allowance, set at 110% of the full new State Pension and increased annually.Malvern Gazette · 9 Oct, 15:20
In this story: Stewart Wilks · Andy Burnham · Government · Labour Party
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