Move Tax Bands in line with minimum wage increases

Summary

Review and change tax bands in line with minimum wage increases. Since freezing the bands, minimum wage has increased by 28.5%. The tax bands should have moved by same amount or minimum wage should not have increased. Increase all tax bands by 28.5% in line with minimum wage increases. I.e. move starting band from £12,570 to £16,155 for 20% tax to start. Move the 40% band from £50,270 to £64,610 Move the additional band from £125,140 to £160,838.

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