Budgetary ideas for 2025

1. Reform national insurance tax with its removal and incorporate it into income tax. Remove contributions from employers to incentivise hiring.
2. Increase income tax threshold from 50,270 to 75,000 but offset this by increasing the rate to 45%
3. Reform child tax benefits by removing all thresholds
4. Reform loss of personal allowance for earnings over 100,00 by removing it completely- smoothing the incremental tax line.
5. Increase income tax threshold from 12,570 to 16,000
6. Increase ISA allowance from 20,000 to 24,000

Published 4 January 2025, with 80 words.