In the hope of raising Â£3.3billion by 2018, Mr Osborne announced he would limit the size of the increase in the personal tax thresholds.
Currently, everyone can earn Â£8,105 without paying a penny of tax. For the next Â£34,370 they earn they pay income tax of 20 per cent.
This means that once they have a salary of Â£42,475, they would pay 40 per cent income tax for every additional pound they earn.
Quite why you would stay in England paying for bludging ferals to breed in their Council houses to get hit with a 40 per cent marginal rate at around NZ$80k I do not and never will, understand.