In a nutshell: That "granny tax" = tax break they never had in the first place

From my friend and occasional commenter here, Mark:

For nearly 90 years, pensioners have enjoyed more generous personal income tax allowances than working adults: a legacy of the days when retirement was a short, painful and often rather alarming business. Now, in order to help fund large and continuing hikes in the personal tax allowance for low and middle-income workers (which have so far seen two million people lifted out of income tax altogether by this coalition government), those more generous pensioners’ allowances are being frozen in real terms so that the working adults’ allowance can catch up, until the distinction between workers’ and pensioners’ allowances vanishes and the two systems can be merged.

Unfortunately, that doesn’t make a snappy Mail headline though, does it?

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