Finance · 27 November 2025
UK tax freeze to affect many workers
Chancellor Rachel Reeves acknowledged working people will pay more tax through frozen thresholds but insisted the contribution was kept at an absolute minimum. Her second Budget raised £26 billion through various measures including threshold freezes that will drag 920,000 more into higher tax rates by 2029-30. Reeves defended her decisions as fair and necessary, saying she had closed tax loopholes to minimize working people's burden while scrapping the two-child benefit cap to tackle poverty.
Reported by ITV · How we write briefs