Households in the UK will be £1,250 worse off next year on average, due to tax hikes made in the Autumn Statement.
Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, laid out the harsh figure to the ECHO after the Chancellor Jeremy Hunt froze income tax thresholds in November. Ms Coles said the "stealth" tax will have a huge impact on working people across the country.
She said: “The round of tax hikes in the Autumn Statement made for miserable reading, but even before that we were on for higher tax bills, because the freezing of the income tax thresholds means that wage rises will push more people into paying more tax – and push enormous numbers of people into higher tax bands.
