From today, the tax-free Personal Allowance will rise for the 7th year to £11,500, meaning a typical basic rate taxpayer will pay a full £1,000 less income tax than in 2010. The Personal Allowance is also set to rise to £12,500 by the end of this Parliament.

The National Living Wage will also rise again to £7.50, giving an income boost of over £500 to a full time worker.

Rt Hon David Evennett, MP for Bexleyheath and Crayford commented: “we’ve come a long way in the last seven years, helping people keep more of the money they earn by cutting income tax for over 30million people.

"By increasing the wages of the lowest paid, taking more people out of income tax, and helping with the cost of childcare, this Government is putting ordinary people at the heart of our plan for Britain to build a stronger, fairer economy that works for everyone."