Osborne to raise UK personal tax allowance to 10,000 pounds

LONDON, March 20 Wed Mar 20, 2013 9:41am EDT

LONDON, March 20 (Reuters) - Britain will raise the personal tax allowance to 10,000 pounds ($15,100) in 2014-15, a year earlier than expected, finance minister George Osborne said on Wednesday.

The coalition government had previously pledged to raise the theshold before people starting paying tax on their income to 10,000 pounds before the end of this parliament in 2015.

"Almost three million more of the lowest paid will pay no income tax at all," Osborne told parliament in his budget statement. "It is a historic achievement for this government."