March 20, 2013 / 1:49 PM / 5 years ago

Osborne to raise UK personal tax allowance to 10,000 pounds

LONDON (Reuters) - Britain will raise the personal tax allowance to 10,000 pounds in 2014-15, a year earlier than expected, Chancellor George Osborne said on Wednesday.

Britain's Chancellor of the Exchequer George Osborne (C) and Chief Secretary to the Treasury Danny Alexander (R) prepare to leave number 11 Downing Street in central London March 20, 2013. REUTERS/Stefan Rousseau/Pool

The coalition government had previously pledged to raise the theshold before people starting paying tax on their income to 10,000 pounds before the end of this parliament in 2015.

“Almost three million more of the lowest paid will pay no income tax at all,” Osborne told parliament in his budget statement. “It is a historic achievement for this government.”

Reporting by Peter Griffiths; Editing by Guy Faulconbridge

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