IFS: Millions in Britain ‘face stealth tax raid’ under Liz Truss’s plans

For every 1 given workers by cutting tax rates 2 was being taken via freeze on income tax thresholds, thinktank calculates

Millions of households are facing a stealth" tax raid under Liz Truss's government despite her promise to support workers through the cost-of-living crisis by lowering their tax bills, Britain's leading economic thinktank said on Thursday.

The Institute for Fiscal Studies (IFS) has calculated that for every 1 given to workers by cutting headline tax rates, 2 was being taken away through a freeze on the level at which people begin paying tax on their earnings.