10p Tax Rate

As flagged up in a number of places I have to agree with the concerns been raised over the effect of last year abolition of the 10p tax rate which came into effect with the start of the new tax year.

Whilst many of the changes to the tax system will have the desired effect, there is a potential 5.3 million low paid workers who will be likely to be left worst off with the change and the changes to the tax credit system according to the Low Incomes Tax Reform Group will not balance the loss due to a large number of those been effected been paid workers without children and those in work and under 25.

As such I hope that the Government / Chancellor of the Exchequer can find a way in the near future to either reverse this change or to compensate these low paid workers upon who this change could have a huge impact affected by what I hope is an unfortunate consequence of the changes to the tax system.