| March 21, 2012 -- In his third Budget, Chancellor George Osborne announced an increase in the amount people can earn before they start paying tax, and cut the top rate of tax from 50p to 45p from next year. The government insists it is not giving a net tax cut to the rich because money will be clawed back by reducing tax avoidance and raising property taxes. Graphic shows key points in the budget. |
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