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<p>The Government has provided a significant package of support to help households
and individuals with the cost of living, taken together this is worth over £94 billion
over 2022-2023 and 2023-2024.</p><p> </p><p>There are a wide range of factors to take
into consideration when introducing a tax relief. These include, but are not limited
to: how effective the relief would be at achieving the policy intent, how targeted
support would be, whether it adds complexity to the tax system and the cost.</p><p>
</p><p>Such an income tax relief would be regressive, as it would be of greatest benefit
to those paying higher rates of tax while low-earning individuals with income below
the Personal Allowance or the higher rate threshold would benefit less or not at all.</p><p>
</p><p>The Government does keep all aspects of the tax system under review.</p>
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