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Income Tax

In his statement, the Chancellor said that he would deal with the issue this year, that he would offset the average losses and that he has brought forward the increase in the allowance to £600. I give that a very, very guarded welcome—first, until I read the small print, and secondly, because 1 million-plus individuals will still be worse off. Will the Chancellor confirm, however, that the change to the allowances on earnings will have no bearing on the abolition of the 10p rate on savings income, and that those households that may lose up to £460 a year in additional tax because of the abolition of the 10p tax rate on their savings income will not be compensated in any way as a result of the measures announced today?