Pauline writes: The Conservative Government have cut tax for working people by reducing National Insurance from 12 per cent to 8 per cent. Now they will cut tax for pensioners too.
From next April the Conservatives will increase the personal allowance for pensioners in line with the Triple Lock by introducing a new age-related allowance – a tax cut of around £100 for 8 million pensioners. They will guarantee in legislation that the pensioners’ personal allowance will rise in line with the highest of earnings, prices or 2.5 per cent so it is higher than the state pension in each year of the next Parliament: the new Triple Lock Plus.
This is delivering on a core Conservative value that those who have worked hard during their lives should have dignity and security in retirement. Labour will hit pensioners with a Retirement Tax by dragging the State Pension into income tax for the first time, raiding pensioners just like the last Labour government.
