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Higher tax rate rises two per cent

The Island's higher tax rate will go up by two per cent this year, to pay for the NHS.

This morning in his budget speech, Treasury Minister Dr Alex Allinson said personal allowances will be unchanged at £14,500 for individuals and £29,000 for couples.

The lower rate of income tax stays at 10 per cent, with a threshold of £6,500 for a single person and £13,000 for a couple.

But the higher rate of tax will rise from 20 per cent to 22 per cent - with the extra cash set aside for healthcare.

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