Do you think that the income tax rate should gradually reduce for older people?
As an OAP, I would love this! Don’t forget, however, that most people over 65 get a much higher personal tax allowance already, and it is even higher for the over 75s. That is conditional on amount of income. Would your proposal have high income limitations, or would a millionaire get this also? I used to deal a lot with PAYE on pensions, and there are a lot of pensioners out there that are quite well off, believe it or not. It is true that there are more with income not high enough to pay tax. Should we be trying for more parity?
