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

Rachel Reeves’ decision to extend the freeze on tax thresholds will hit lower earners, a leading think tank has warned.

The Resolution Foundation’s analysis of Wednesday’s Budget says that by 2030-31 people earning less than £35,000 a year will pay more than if the chancellor had raised the basic rate by 1p.