Should we stop dragging people into tax designed for...
Almost five times as many people will soon be paying 40 per cent tax than in the early 1990s, when it was seen as a tax bracket reserved for the rich, the Institute for Fiscal Studies warned this week. It said that fiscal drag triggered by freezing the higher rate tax threshold would pull 7.8million people into its net by 2027. The study suggested that the threshold would have to be almost doubled from its current level, at £50,271, to almost £100,000 to return the tax band to the level intended
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