Millions of pensioners are on course to hand over nearly £3,000 more in tax thanks to frozen income tax thresholds, with experts warning it’s a “stealth raid” that many never saw coming.
Despite a promise to boost schools and the NHS, Labour Chancellor Rachel Reeves has stuck to the Conservatives’ controversial plan to freeze tax thresholds until 2028. That means the personal allowance will remain at £12,570 — the same level set back in 2021. If it had risen in line with inflation, it would be closer to £16,290 by 2027-28, reported Lancs Live.
