Rachel Reeves has announced £26bn worth of tax rises in her budget, including extending the freeze on personal income thresholds.
The package also contains a new "mansion tax" on properties worth over £2m, while people paying into their pension pot under salary sacrifice schemes will face national insurance on contributions above £2,000.
The measures, which were published by the Office for Budget Responsibility (OBR) ahead of time in an unprecedented blunder, will take the UK’s tax burden to an all-time high of 38% of GDP in 2030-31, the fiscal watchdog said.
Read more: https://news.sky.com/story/budget-2025-reeves-to-announce-26bn-of-tax-rises-after-budget-leak-13475665
#money #budget2025 #inheritancetax #rachelreeves #bethrigby #ukpolitics #economy
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