Friday, November 24, 2023
More on the Tory tax hoax
Following on from yesterday's blog about Tory budget spin, it transpires that the Office for Budget Responsibility (OBR) forecasts show the freezing of income tax and National Insurance thresholds is due to raise £201bn between now and 2028-29.
The figures also show 7.4 million people are set to be dragged into a higher rate of tax over the next six years. 4 million people are set to be brought into paying income tax for the first time by 2028-29, while 3 million will be dragged into paying the higher 40p rate.
It comes despite a Conservative Party promise not to raise the income tax rate in their 2019 manifesto. Look at what they do, not what they say.
The figures also show 7.4 million people are set to be dragged into a higher rate of tax over the next six years. 4 million people are set to be brought into paying income tax for the first time by 2028-29, while 3 million will be dragged into paying the higher 40p rate.
It comes despite a Conservative Party promise not to raise the income tax rate in their 2019 manifesto. Look at what they do, not what they say.
