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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