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      ], "answer" : {"_about" : "http://data.parliament.uk/resources/1122396/answer", "answerText" : {"_value" : "<p>The Government is committed to supporting people of all incomes and at all stages of life to save.<\/p><p> <\/p><p>Older people will continue to benefit from a number of measures the Government has introduced in recent years.<\/p><p> <\/p><p>The Government has increased the amount that individuals, including older people and those of State Pension age, can earn or receive in savings interest before paying income tax to £12,500 per year. As a result, people can keep more of their income to invest as they choose.<\/p><p> <\/p><p>The amount of money that people can save into their ISAs each year (the annual subscription allowance) has been increased to a record £20,000.<\/p><p> <\/p><p>Since April 2016, individuals have also been able to benefit from a new Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers.<\/p><p> <\/p><p>As a result of these measures, over 95% of people with savings income pay no tax on that income.<\/p>"}
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