'Millions paying more' says Labour

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Struggling families will lose thousands of pounds in the new financial year while Government tax reforms save 13,000 millionaires an average of £100,000, Labour claims.

Among a raft of changes coming into effect on Saturday are the largest rise in the personal allowance, which means that no one pays any tax until they earn more than £9,440, and a fall in the higher rate threshold to £41,450.