Work it out!

Back in the 70s when inflation was rampant and what percentage pay rise you got or were going to get tended to dominate your working life, particularly around this time of year when such things were being negotiated there was a common saying which tended to crop up - "ten percent of nothing is nothing".  That saying popped into my mind the other day, when some coalition spokesman was saying that raising the personal tax allowance from £10,000  to £10,500 would benefit everybody.  No, it wouldn't - if you earn £10,000 or below (and there are plenty who do) you will see absolutely no change - ten percent of nothing is nothing!