UK's Hammond raises thresholds for income tax next year

LONDON, Nov 22 (Reuters) - British finance minister Philip Hammond on Wednesday committed to raise the threshold at which Britons start to pay tax on their income to 11,850 pounds ($15,674) next year, compared with 11,500 pounds currently.

Hammond also said the threshold at which people pay the higher rate of income tax will rise to 46,350 pounds next year. ($1 = 0.7560 pounds) (Reporting by Andy Bruce, editing by Alistair Smout)