Clegg pushes for further hike to income tax threshold

The government has repeatedly raised the personal allowance - the amount people can earn before paying income tax - since the 2010 election. The threshold is due to reach £10,000 in 2014/15 but Clegg wants to make it £10,500 from 2015 - a move that would cost the Treasury £1bn. Conservatives said they would consider it but any changes must be "paid for", according to the BBC. Deputy prime minister and Lib Dem leader Clegg said raising the personal allowance to £10,000 - a tax cut "worth £700 to millions of people" - was a "huge step" which he had been campaigning on for years. A...