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Cash back for consumers as tax rebate kicks in

Around 22 million Britons are set to receive a £60 tax rebate this month.The government is set to raise the personal allowance of those paying the new 20p tax band - the amount which they can earn and not be taxed - by £600 to £6,035 from next week.This will not only allow the rebates, but will also lead the taxpayers to receive £10 a month on each paycheque until the financial year is complete.In total, the group will therefore receive £120 in the cash-back rebates over the rest of the year.The decision to offer the rebates was made by chancellor of the exchequer Alistair Darling, following the public outcry over the government's decision to scrap the old 10p and 22p tax band in favour of the new 20p rate.This is because the move left many low-income households, who did not earn enough to pay the 22p rate, with double the tax burden.Therefore, the personal allowance was raised in order to sweeten the deal.

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