article_snippet: But Mr Osborne cheered Tory MPs by announcing a series of modest increases in the 40p threshold in the coming years, culminating in a 1.4 per cent rise in 2017 – just above the forecast inflation rate of 1.2 per cent.
article_snippet: The changes in the basic rate and 40p thresholds will be included in the Finance Bill that will be pushed through the Commons in the coming days.
article_snippet: But The changes in the basic rate and 40p thresholds will be included in the Finance Bill that will be pushed through the Commons in the coming days could be reversed by an incoming Labour government if Ed Miliband wins power in May.
article_snippet: Labour has been silent on 40p tax, giving no indication that Labour would raise the threshold.
article_snippet: The changes announced yesterday are worth £80 to basic-rate taxpayers and £172 to those paying the 40p rate, and will cost the Treasury £1.6billion by 2017.
article_snippet: The announcements confirm that the Conservatives will have to implement massive rises in the 40p threshold in the later years of the next parliament in order to hit Mr Cameron’s £50,000 pledge.
article_snippet: The number of people paying 40p tax has risen by around three million to five million since 2010, as a result of coalition decisions to cut the threshold to help pay off the huge budget deficit left by Labour.
article_snippet: Ministers initially cut the threshold for paying 40p tax and then raised 40p tax more slowly than inflation.
article_snippet: the threshold for paying 40p tax is also the starting point at which families with a relatively high earner start to lose families with a relatively high earner child benefit payments.
highlights_snippet: Chancellor announced series of modest increases in 40p threshold in coming years, culminating in 1.4% rise in 2017 .
  