The Stealth Tax: A Looming Threat to Britons’ Incomes
As the cost of living continues to rise, Britons are facing a new threat to their incomes: the stealth tax. This hidden tax, which results from frozen tax thresholds, is set to continue until 2028, according to Chancellor Jeremy Hunt. This means that people’s incomes will be squeezed, leaving them with less disposable income to spend on essential items.
The stealth tax is a hidden threat to Britons’ incomes
The stealth tax is a result of the government’s decision to freeze tax thresholds, which means that people are paying more tax as their incomes rise. This may not seem like a lot, but it can add up over time, leaving people with less money in their pockets.
Use a tax calculator to see how the stealth tax affects your income
The impact of the stealth tax will be felt by people of all income levels, from low-income earners to high-income earners. It’s a regressive tax that disproportionately affects those who can least afford it.
The stealth tax disproportionately affects low-income earners
The government’s decision to continue the stealth tax until 2028 is a blow to Britons who are already struggling to make ends meet. It’s a tax on hardworking people who are trying to get by, and it’s a tax that will only get worse over time.
Chancellor Jeremy Hunt has confirmed that the stealth tax will continue until 2028
The stealth tax is not the only financial burden facing Britons. Energy prices are expected to rise again in the autumn, and the cost of living is already high. It’s a perfect storm of financial pressures that will leave many people struggling to make ends meet.
Energy prices are expected to rise again in the autumn
In conclusion, the stealth tax is a looming threat to Britons’ incomes. It’s a hidden tax that will continue to squeeze people’s incomes until 2028, leaving them with less money to spend on essential items. It’s a regressive tax that disproportionately affects low-income earners, and it’s a tax that will only get worse over time.
The stealth tax is a threat to the UK economy
