Tax Allowance Freeze Hits Pensioners | Leeds News

The personal tax allowance, frozen at $12,570 since 2021, is now hitting millions—especially pensioners—hard as inflation erodes real take-home pay. With costs rising and incomes stagnant, even part-time work can push people over the threshold. Experts argue the allowance should be around $16,000 to reflect inflation, and while the government admits the issue needs fixing, any adjustment could cost billions. The upcoming budget will decide: broad raise, targeted boost for seniors, or no change at all. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1610a9ffe04b8d92