Meanings of transferable tax in English

Cameron is not saying that the transferable tax allowance will compensate the child benefit losers.

The policy unveiled before the election was for a transferable tax allowance that would only benefit basic-rate taxpayers.

In one of his interviews, Cameron mentioned the fact that the transferable tax allowance plan is mentioned in the coalition agreement.

He also said introducing a transferable tax allowance was "something that we would like to do in this parliament".

Introducing transferable tax allowances would only compensate the child benefit losers if the Tories amend the plan they announced before the election.

The proposals suggest that around four million couples could benefit from a £1,000 transferable tax allowance from 2015.

First, here's an evening summary: -David Cameron has said the government wants to introduce a transferable tax allowance for married couples before 2015.

But that should not be taken as a sign that the government intends to make transferable tax allowances apply to higher-rate taxpayer, I was told.

He accused the Tories of "making policy on the hoof", referring to the suggestions that transferable tax allowances could compensate some of the losers.

As I pointed out at 8.56am, the Tory plans for a transferable tax allowance would only help couples paying the basic rate of tax.