Budget 2024 live: Reeves accepts tax hike Budget likely to hit workers’ wages

Reeves surprises regarding tax thresholds for individualspublished at 1:49 p.m. Greenwich Mean Time, October 30

Dearbail Jordan
Business reporter

True snark from Reeves on personal tax brackets. Under the Tories, they were to remain in force until 2028.

It was expected that he would freeze them for another year, but he didn’t. “I came to the conclusion that extending the threshold freeze would harm working people. It would take more money from their pay stubs,” he says.

This means that from 2028-29 “personal tax thresholds will rise again in line with inflation”.

Valid from 2022.