Budget 2015: Coalition 'to raise personal allowance towards £11k'

According to a report in the Sunday Times, the coalition government is close to finalising a deal that would take the allowance "towards £11,000" per year from April. The current income tax personal allowance for most people is £10,000 - up from £9,440 in 2013-2014 - and is set to rise to £10,600 next month. But Osborne is set to announce at Budget 2015 on 18 March that it will increase again by about £200, according to the report which cited a "senior government source". The newspaper said the final figure will be decided later this week at a meeting of the "quad" of senior cabine...