The better option

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the-better-option

For the £12 billion cost of Darling's 2.5 percent VAT cut, he could have raised the personal allowance to £10,000 instead.*

That would have taken 4.3 million people out of income tax, and saved a typical dual-earner family £133 per month.

* Assuming the higher-rate threshold stays where it is now.

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Lies, damned lies, and Labour budgets