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Generation divide over income tax laid bare after significant post
Post-pandemic, more Britons over 70 are paying income tax than those under 30, a reversal of previous trends. In 2022-23, over 5.4 million people over 70 paid £19.1 billion in income tax, while 5.23 million under 30s paid £18.3 billion. This shift is attributed to the triple lock on state pensions, bracket creep due to frozen tax thresholds, and an overall increase in higher and top-rate taxpayers.
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