Reform's £21bn Tax Cut Promise vs Labour's Frozen Thresholds

Reform UK has pledged to raise the tax-free personal allowance from £12,570 to £15,000 in its first budget if elected—a £21bn tax cut designed to "choose the worker." The party claims this would save the majority of taxpayers about £500 a year and benefit 40 million people. For context, the personal allowance has been frozen since 2021 and is locked until 2031 under both Tory and Labour governments, creating what economists call "fiscal drag."...