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Tax Threshold Freeze: 4.2 Million Brits at Risk

7/12/2025

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Summary

Story summary

Chancellor Rachel Reeves' potential extension of the tax threshold freeze could hit a million Brits with higher tax rates, raising an estimated £10 billion each year. This policy, originally implemented in 2022, threatens to pull an additional 4.2 million people into the tax system by 2029-30, undermining her earlier promises to prevent tax increases.

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Story summary

Chancellor Rachel Reeves' potential extension of the tax threshold freeze could hit a million Brits with higher tax rates, raising an estimated £10 billion each year. This policy, originally implemented in 2022, threatens to pull an additional 4.2 million people into the tax system by 2029-30, undermining her earlier promises to prevent tax increases.