Tories consider personal tax allowance election pledge
The Conservative Party is considering making a general election pledge to up the personal income tax threshold to £12,500, it has been suggested.
The Liberal Democrats have already pledged to do the same over the course of the next Parliament.
The move would see all workers who earn the minimum wage taken out of paying income tax.
The personal income tax allowance is due to go up to £10,000 as of next April.
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The measure has been a sore point for the members of the Coalition Government with disagreements over who should take credit for it.
It was a Liberal Democrat policy, initially opposed by the Conservatives, but with the cost of living due to be one of the central themes of the next election both parties are keen to take ownership.
The suggestion the Conservatives are considering pledging to raise the allowance to £12,500 was first reported by the Financial Times.