Aligning employers' National Insurance floor with the personal allowance of income tax - announced March 1998.
That 66.6% is very strange indeed because the tax free personal allowance is withdrawn in that income band.
And his cuts to tax credits will dwarf any gain from the rise in personal allowance for millions of working families.
The increased personal allowance will apply to all income for this tax year and so will be backdated to 6 April.
The change means that as people turn 65, they will not be entitled to the higher personal allowance set aside for most pensioners.
Of these, only the last - an increase of the personal allowance - affects the majority of taxpayers and potentially involves a lot of money.
As well as the cuts, the government has announced a 7.7% increase in Personal Allowance Credit, a benefit paid to about 11, 000 people each year.
Mr Speaker, raising the personal allowance is simpler than other solutions.
This is charged on a narrow band of savings above the personal allowance, so they will pay less tax because the personal allowance has gone up.
Patrick Stevens, tax partner at Ernst and Young, said that the 2014-15 change in the personal allowance was, in fact, not as large as previous years.
Those that would lose out most were those about to turn 65 - but with a higher personal allowance for everyone, the amount lost was "much reduced".
Just a straight 13% of income after the personal allowance.
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The net effect of these changes is that the tax liability of everyone that currently pays tax at 40 per cent will be unaffected by the increase in the personal allowance.
The same is true of the individuals affected by the increase in the personal allowance - which, incidentally, the OBR says has put the government on course to achieve at least one of its targets.
To the point that my idea that the personal allowance for income tax should be set, by law, at the full year full time minimum wage earnings will be in the manifestos of at least two political parties (likely, those who will come third and fourth, but you cannot have everything) at the next general election.
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The chancellor told the BBC that, with the personal tax allowance being raised "rapidly", it would have eventually overtaken the over-65s allowance anyway.
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However, legislation is expected to be introduced before 2015 to allow couples to transfer part of their personal tax allowance to their partner.
In his fourth Budget as chancellor, Mr Osborne announced a package of measures, including a cut to corporation tax and an increase in the personal tax allowance.
Alongside that pain he's offered voters some gains - the cancellation of the next planned fuel duty rise and another small income tax cut by an increase in the personal tax allowance.
She said cuts in fuel duty, the freezing of council tax and increases in the level of personal tax allowance would help families, while the new Universal Credit would make three million households better off and help 80, 000 with childcare costs.
He also said the personal income tax allowance would rise in the Budget.
In the Budget, Mr Osborne announced an increase of VAT up to 20%, the freezing of child benefit and a rise in personal income tax allowance.
But First Minister Alex Salmond, who has called for full fiscal powers for Scotland, said the proposals had been overtaken by the UK government's plan to pay for a rise in the income tax allowance with personal increases in National Insurance, under which money would go straight to the Treasury.
The UK government has said the Welfare Reform Bill would save billions of pounds by replacing Disability Living Allowance with a personal independence payment and replacing a range of other benefits with a single universal credit.
People on Disability Living Allowance (and the Personal Independence Payment replacing it) will be among those exempt from the cap.
It also introduces tougher sanctions for those who refuse work and replaces the disability living allowance with a new Personal Independence Payment, which requires claimants to go through regular assessments of how their condition affects them.
The bill also introduces tougher sanctions for those who refuse work and replaces the disability living allowance with a new Personal Independence Payment, which requires claimants to go through regular assessments of how their condition affects them.
The bill would also replace Disability Living Allowance (DLA) with a personal independence payment.
It mustered a 16 vote majority against Crossbencher Lady Grey Thompson's amendment calling for an independent study and pilot programmes before the new Personal Independence Payment for disabled people replaces Disability Living Allowance.
The disability living allowance (DLA) is being replaced with Personal Independence Payments (PIP), which require up-front medical tests and regular health re-assessments for claimants.
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