6 d. ago Stealth tax raid hits incentives to work, save and even stay in the UK, warns Budget watchdog

David Miles, from the Office for Budget Responsibility (OBR), suggested Rachel Reeves' freeze on income tax thresholds would weigh on growth in the economy.

Events

6 d. ago Workers who defer state pension for a year risk being hit by a surprise £828 tax bill by 2030

WORKERS who defer their state pension for just a year risk being hit by a surprise £828 tax bill by 2030 owing to a Budget carve-out. The freeze on income thresholds till 2031 led to fears millions would be forced to start paying when pensions pass the £12,750 personal allowance. Chancellor Rachel Reeves has since...

Economics

6 d. ago Call for ministerial code probe into John Swinney's 'blatant lies' over SNP tax increases

The SNP’s Holyrood manifesto vowed to “freeze income tax rates and bands” until 2026.

Politics

7 d. ago John Swinney ‘lied & breached ministerial code’ claims rivals as they call for probe

JOHN Swinney should face a probe into whether his own budget “lies” have breached the ministerial code, the Tories demanded. The First Minister has repeatedly refused to admit the SNP breached their 2021 election promise to freeze income tax rates and bands, despite hiking the levies twice. The Scottish Tories have now written to the...

Politics

9 d. ago Sultana attacks the monarchy, Israel and ‘pathetic’ Labour in Your Party speech – UK politics live

MP speaks to delegates in Liverpool after boycotting conference yesterdayKemi Badenoch has reiterated her calls for the chancellor to resign on the BBC’s Sunday with Laura Kuenssberg programme, after accusing Rachel Reeves of breaking promises not to raise taxes.In this year’s budget, Reeves froze tax thresholds for three years longer than previously planned, meaning that as wages rise more people will have to start paying income tax.The chancellor called an emergency press conference telling everyone about how terrible the state of the finances were and now we have seen that the OBR had told her the complete opposite. She was raising taxes to pay for welfare.The only thing that was unfunded was the welfare payments which she has made and she’s doing it on the backs of a lot of people out there who are working very hard and getting poorer. And because of that, I believe she should resign.The shadow chancellor, Mel Stride, has written to the FCA (the Financial Conduct Authority). Hop...

Politics

9 d. ago Sultana addresses Your Party conference after securing ‘collective leadership’ victory – UK politics live

MP speaks to delegates in Liverpool after boycotting conference yesterdayKemi Badenoch has reiterated her calls for the chancellor to resign on the BBC’s Sunday with Laura Kuenssberg programme, after accusing Rachel Reeves of breaking promises not to raise taxes.In this year’s budget, Reeves froze tax thresholds for three years longer than previously planned, meaning that as wages rise more people will have to start paying income tax.The chancellor called an emergency press conference telling everyone about how terrible the state of the finances were and now we have seen that the OBR had told her the complete opposite. She was raising taxes to pay for welfare.The only thing that was unfunded was the welfare payments which she has made and she’s doing it on the backs of a lot of people out there who are working very hard and getting poorer. And because of that, I believe she should resign.The shadow chancellor, Mel Stride, has written to the FCA (the Financial Conduct Authority). Hop...

Politics

1 week ago Britain's biggest stealth tax to cost families £340BILLION with more than 10million paying higher rates

Rachel Reeves this week extended the freeze on income tax thresholds for another three years to help fund extra spending on benefits - hitting millions of working people in the process.

Economics

1 week ago Minimum wage graduates could make student loan repayments by 2030 after Budget threshold freeze

The Chancellor froze student loan repayment thresholds until 2030 on plan 2, meaning more low earners will start repaying 9% of their salary sooner.

Economics

1 week ago Martin Lewis: Income tax freeze 'breaks spirit of Labour manifesto and 1p rise would be less damaging'

In her Budget on Wednesday, Rachel Reeves announced £26 billion of tax rises

Politics

1 week ago Reeves’ stealth tax hits low earners harder than ‘sensible’ income tax change, says top think tank

People earning less than £35,000 a year will pay more than if chancellor had raised basic rate by 1p, says Resolution Foundation

Events

1 week ago More than 500,000 people in London and South East to be dragged into paying 40% income tax after Reeves Budget

The Chancellor was facing criticism that she was hitting workers with tax rises to pay for more benefits

Economics

1 week ago Income tax thresholds £12,570 update as impact shows £759 extra 'for poorest workers'

Chancellor Rachel Reeves has extended the freeze on income tax bands until April 2031, raising £7.6 billion and pulling 1.7 million more people into paying higher rates

Economics

1 week ago Key £12,570 personal tax threshold post Budget Rachel Reeves update as 'more pay'

900,000 extra people to pay tax as Resolution Foundation says it's 'Britain’s biggest stealth tax rise'

Economics

1 week ago The strivers hit hardest: As Reeves' Budget clobbers workers, the Britons who say it's a 'kick in the teeth' and 'I wish I hadn't bought an EV'

The Chancellor bowed to Left-wing demands and shattered Labour's manifesto pledges on tax with a £13billion freeze on income tax and National Insurance thresholds lasting three years.

Economics

1 week ago Stealth tax raid will see a MILLION more pensioners dragged into paying income tax

A million more pensioners will be dragged into paying income tax after Rachel Reeves confirmed she would extend the freeze on thresholds for another three years.

Economics

1 week ago With a smirk that says if you work hard and save prudently I'm coming for you, Reeves launches 43 tax rises in spiteful raids on strivers

The Chancellor shattered Labour's manifesto pledges on tax with a £13 billion freeze on income tax and National Insurance thresholds lasting three years.

Economics

1 week ago Budget 2025 live: Reeves claims freezing tax thresholds in budget does not breach manifesto pledge

Chancellor says she will not ‘get into semantics’ when questioned on issue after her statementAt a glance: the key points from the budgetHow does freezing income tax thresholds affect you?Paul Nowak, the TUC general secretary, has rejected the concerns raised by the Resolution Foundation (see 9.54am) about the rise in the minimum wage rates. Asked about the thinktank’s comments, Nowak told Times Radio:I don’t accept those concerns ...First of all, that recommendation is based on the Low Pay Commission, which brings together employers, unions, independent experts, they’re tasked with making a recommendation on the minimum wage, which balances getting money into people’s pockets and the impact on unemployment. Continue reading...

Economics

1 week ago Rachel Reeves says budget will cut living costs after shock OBR leak

Chancellor unveils action on energy bills, rail fares and two-child benefit cap as she reveals £26bn tax risesHow does freezing tax thresholds affect your tax bill?Budget 2025: key points at a glanceRachel Reeves has declared her budget will slash living costs for millions including ending the two-child benefit limit and cutting energy bills, but taxes are set to soar by £26bn to plug a gaping shortfall in the public finances.Major measures in the budget leaked early in a shock accidental release by the Office for Budget Responsibility (OBR), triggering an instant bond market reaction an hour before the chancellor was on her feet in the House of Commons. After months of speculation, Reeves said her measures would put the public finances on a sustainable path while building “a fairer, a stronger, a more secure Britain” by tackling inflation and investing in large infrastructure projects. Continue reading...

Economics

1 week ago Budget 2025: 1.7 million workers to pay more income tax due to Reeves’s ‘stealth tax’

It will mean £140 more in tax for hundreds of thousands of earners

Economics

1 week ago Budget 2025: 1.7 million workers to pay higher income tax rates due to Reeves’s ‘stealth tax’

It will mean £140 more in tax for hundreds of thousands of earners

Economics