Tax-Free Boost or Fiscal Misstep | Sheffield News

Prime Minister Andy Burnham is proposing a boost to the tax-free Personal Allowance, raising it from £12,570 to £13,070 to combat fiscal drag — a growing number of workers being pushed into higher tax brackets due to inflation. While the move sounds generous, experts warn it’s a “bad tax cut,” costing billions while delivering minimal savings — just £100 a year for a basic rate taxpayer. In contrast, a similar-sized investment in National Insurance could save the average worker over £250 annually. The debate highlights the trade-offs between political appeal and economic efficiency when trying to help everyday earners. 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/a831e5f83131067a