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Lower rate tax threshold raised

Chancellor Gordon Brown raised the threshold for the 10 pence tax rate from £1,520 a year to £1,880 a year, a cut he claimed would cost £1bn.

Brown said this would benefit 25m taxpayers, adding that 7.5m pensioners, who made up 70 per cent of all pensioners, would now pay either no income tax or tax at the lower 10 pence rate.

Some commentators said this claim was a hollow one as it showed 70 per cent of pensioners were on low incomes.

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