Tax threshold freeze not a pledge-breaker - Labour sources

Quick Summary:

Government sources insist the move would not constitute a breach of Labour's manifesto tax pledge.

If Reeves goes ahead with the plan, roughly 400,000 more people will find themselves paying income tax at the basic rate.

But a threshold freeze could allow the chancellor to raise an estimated £7bn by bringing more people into the tax system.

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Article Details

Category: Business

Markets: United KingdomIreland

Topics: Reeves Taxes Income Thresholds People Working Increase Government Chancellor Freeze

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-19 @ 04:50:33 (15 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 607 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23125141

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Official Website: bbc.co.uk

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Year Established: 1922

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News Last Updated: 14 hours ago

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