Article 65Z1X How the autumn statement will impact households, from single mums to married pensioners

How the autumn statement will impact households, from single mums to married pensioners

by
Jess Clark
from on (#65Z1X)

Freezing of thresholds means those receiving a wage rise will pay more tax, while benefits increase by the rate of inflation

The chancellor, Jeremy Hunt, has pressed the button on a new wave of austerity in an autumn statement that will bring to an end eight years of improved living standards.

Hunt left the three main tax rates unchanged - 20p basic, 40p higher and 45p additional rate - with the first 12,750 of income tax-free and the 40% rate starting at 50,270. However, he did lower the threshold at which Britons start paying the 45p top rate of income tax to 125,140 - a measure that will pull 250,000 people into the top rate.

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