2 minutes
Chancellor Rachel Reeves has abandoned plans to raise income tax at the 26 November Budget, following improved economic forecasting from the Office for Budget Responsibility (OBR). Ms Reeves had previously hinted at tax rises or "deep cuts" to public investment to fill a significant gap in her spend
2 minutes
Official figures have revealed a significant shift in income tax contributions, with more UK adults over 70 paying tax than those under 30, according to official government figures. Treasury data for 2022-23 shows 5.45 million over-70s paid income tax, compared to 5.23 million under-30s. This revers
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