Tom Selby: Phillip Hammond - The good, the bad and the ugly

The good * Income tax reforms boost workers: While Phillip Hammond's tenure has undoubtedly been dominated by a combination of austerity and Brexit, he has also introduced a number of reforms that have affected people's personal finances. Arguably the most significant intervention focused on lowering workers' income tax bills by raising the personal allowance. This stood at £11,000 when Hammond took the job in July 2016 and has steadily risen to £12,500 for the 2019/20 tax year - 12 months earlier than under previously announced plans. The point at which higher-rate income tax at 40% k...