Chancellor's Tax Freeze Sparks Debate
The freeze causes fiscal drag by pushing workers into higher tax bands.
A 50k employee would be 505 worse off by 2030-31 despite a 6k pay rise.
Pensioners and universal credit recipients gain 306 and 290 respectively.
The freeze is expected to raise £23bn for the Exchequer in 2030-31.
The Treasury called the freeze 'fair and necessary', while Sir Mel Stride criticized it as lacking backbone.
2 weeks ago