Tax Threshold Freeze in Budget Squeezes Pensioners and Low Earners Again
London, England – After Chancellor Jeremy Hunt’s Budget announcement, BBC News engaged in a discussion with a panel of experts to clarify the financial implications for the public. The Budget drew attention to various aspects affecting individuals’ finances, from tax thresholds to National Insurance contributions. The freezing of tax thresholds in 2021 has led to a significant number of pensioners, over 60%, now having to pay income tax on their state pension. This change has …