Millions of workers in the UK could be considerably worse off financially under a new scheme being discussed by the Government.
Chancellor Jeremy Hunt and Prime Minister Rishi Sunak want to implement a stealth tax on middle earners, to try to plug a hole in money since Liz Truss' disastrous mini Budget. The Chancellor wants to extend a freeze on income tax thresholds until 2028.
This would mean people on £50,000 a year would lose £3,659 in tax. Mr Hunt will set out his plans in the Autumn Statement on November 17 and is considering splitting the burden equally between tax rises and spending cuts, Birmingham Live reports.
