Article 6BR99 One in five workers will be higher-rate taxpayers by 2027 – IFS

One in five workers will be higher-rate taxpayers by 2027 – IFS

by
Larry Elliott Economics editor
from Economics | The Guardian on (#6BR99)

Jeremy Hunt's freeze on allowances and thresholds will put a quarter of teachers and one-eighth of nurses in 40% income tax bracket

One in four teachers and one in eight nurses will be higher-rate taxpayers by 2027 as a result of the government's record freeze on income tax allowances and thresholds, according to a leading thinktank.

The Institute for Fiscal Studies said better-paid public sector workers will be among the almost 8 million people - one in five of all taxpayers - who will pay income tax at 40% or above as result of the Treasury's attempt to reduce the UK's budget deficit.

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