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Tax Allowance Freeze Under Fire | Leeds News
The new prime minister faces mounting pressure over the frozen tax-free allowance, which has pushed nearly a million more people into higher tax brackets and thousands into the top 45% by 2030 — while also forcing almost 800,000 into income tax for the first time. Though he’s aware of the hardship, he’s not prioritizing a change now, citing fiscal discipline and tough choices needed to tackle the cost of living. Experts argue unfreezing the allowance could cost billions annually and suggest more targeted cuts — like a penny reduction in employee NI — might be more effective. Meanwhile, a…
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