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Conservative Tax Measures Push Millions Into Higher Brackets

4/30/2026

Summary

Story summary

HMRC’s 2024 personal-income data show Conservative tax measures moved millions into higher brackets, contradicting the party’s claim of tax cuts.
The number of taxpayers rose by 2.17 million for the year ending April 2024.
Additional-rate taxpayers earning over £125,140 increased 56.8 percent, adding 324,000 people to the 45 percent band.
Taxes from property, banks and building societies rose 17.2 percent to £125 billion, reflecting Chancellor Jeremy Hunt’s policies that extended Prime Minister Rishi Sunak’s 2021 threshold freeze.

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Story summary

HMRC’s 2024 personal-income data show Conservative tax measures moved millions into higher brackets, contradicting the party’s claim of tax cuts.
The number of taxpayers rose by 2.17 million for the year ending April 2024.
Additional-rate taxpayers earning over £125,140 increased 56.8 percent, adding 324,000 people to the 45 percent band.
Taxes from property, banks and building societies rose 17.2 percent to £125 billion, reflecting Chancellor Jeremy Hunt’s policies that extended Prime Minister Rishi Sunak’s 2021 threshold freeze.