Spring Statement: Basic rate of income tax cut to 19p

The Chancellor has announced that the basic rate of income tax will be cut from 20p by 19p. It's the first time in 16 years the basic rate has been cut.

Rishi Sunak called it a "tax cut for workers, for pensioners, for savers."

Read more about the Spring Statement announcements here: https://news.sky.com/story/spring-statement-latest-rishi-sunak-to-unveil-mini-budget-as-he-hints-he-will-help-britons-with-the-cost-of-living-crisis-12572642

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