Top income tax rate falls to 45%
A raft of government changes to tax reform come into effect from today, including a cut in the top rate of income tax from 50p to 45p.
Danny Alexander: Tax reforms will make work pay
Chief Secretary to the Treasury Danny Alexander has said that income tax changes that came into effect today will help make work pay.
Mr Alexander told Radio 4's Today programme that the coalition government "is working hard to help those on low and middle incomes".
He added: "We think it's important that we make work pay, that we reward people who are working hard on ordinary incomes and that is what the increase in the personal allowance will do".
More top news
-
Joe Biden vows to fight racial inequality with economic agenda
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
-
Trump reverts to promoting unproven drug as coronavirus treatment
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
-
What the papers say – July 29
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.