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There is one tax reform the government has pursued since 2010 to improve the lot of working people. Raising the tax-free personal allowance.

…including £20 million to support the Defence and National Rehabilitation Centre at Stanford Hall in Nottinghamshire – and £3 million from the Tampon Tax Fund for Comic Relief to distribute to a range of women’s charities.

Once £12,500 has been reached, the personal allowance will rise automatically during the 2020s in line with inflation, rather than the National Minimum Wage as currently planned.

Insurance premium tax in this country is lower than in many other European countries, and half the rate of VAT.

The OBR acknowledges that there is a higher degree of uncertainty around these forecasts than usual. Despite slower growth, the UK labour market is forecast to remain robust.