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Bristol Post
Bristol Post
Business
James Rodger & Shannon Brown

Thousands in UK set to lose £3,659 from their wages amid 'stealth taxes'

Jeremy Hunt

Workers could be set to lose thousands of pounds in proposed plans to extend the freeze on income tax thresholds. The government is considering a stealth tax raid on middle earners.

The new Prime Minister Rishi Sunak and Chancellor Jeremy Hunt are searching for ways to stop the money flow left by Liz Truss's mini budget which sank the economy in September. Mr Hunt wants to extend freeze on income tax thresholds until 2028, reports BirminghamLive.

This means anyone earning £50k could end up shorted of £3,695 in tax. The Chancellor will announce his plans on November 17 in the Autumn Statement, and is currently considering both tax raises and spending cuts to save money.

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