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A £1 million Highways England project to resolve a long-running issue with flooding along the A590 at Lindal-in-Furness in Cumbria, is to get underway on Friday (25 November).

And I can confirm today that, despite the challenging fiscal forecasts, we will deliver on our commitment to raising the allowance to £12,500, and the higher rate threshold to £50,000, by the end of this Parliament.

The Low Pay Commission (LPC), the body that advises the Government on the level of the minimum wage, today welcomed the acceptance of its recommendations for the rates to apply from April 2017. These include a 4.2 per cent increase in the National Living Wage (NLW), the rate for workers aged 25 and over, from £7.20 to £7.50.

The tax system needs to keep pace. For example, the OBR has today highlighted the growing cost to the Exchequer of incorporation.

The Personal Allowance is the amount of income you can earn before you start paying income tax. It is currently £11,000 this year, and will rise to £11,500 in 2017-18. The point at which you pay the higher rate of income tax will increase from £43,000 this year, to £45,000 in 2017-18.