"Pensioners and young people who have lost money as a result of the abolition of the 10p tax rate are to be given compensation, Alistair Darling says.
In what will be seen as a U-turn forced by Labour rebels, the chancellor said he would assess the loss to pensioners aged 60-64 and childless people.
He will announce in the autumn what the Treasury will do to compensate them, with the money backdated to April. "
"He said he would be looking at changes to the winter fuel payment system, tax credits and the minimum wage in order to compensate those losing out from the ending of the 10p rate."
Sweet. Changes will mean those earning in the old 10% bracket 'break-even', those in the old 22% bracket have their 2% cut, and those above that are still as pompous and portly as ever.
Bet this "raises eyebrows" (HO HO HO THEY'RE BLACK AND HIS HAIR IS GREY!) at PMQ.