Healey to introduce allowance shielding state pensioners from income tax
Chancellor John Healey is about to roll out a new tax allowance in his October 28 budget, making sure pensioners living just on the state pension won't get hit by income tax.
With the full state pension rising to £13,036.40, now above the usual tax-free limit, this move keeps things fair for those relying solely on their pensions.
UK parties clash over budget
While this change aims to help older folks with rising costs, there's plenty of debate going on.
Conservatives and Reform UK are pushing for welfare cuts, but Treasury insiders say this year's budget will be less dramatic than usual.
Meanwhile, some politicians want bigger fixes: Liberal Democrat Treasury spokeswoman Daisy Cooper is calling for a U.K.-E.U. growth deal to ease taxes, and the Greens suggest funding energy bill support by ending a tax relief for data centers.