US EditionUK PM Starmer does not rule out extending income tax threshold freeze
Prime Minister Starmer considers extending the income tax threshold freeze to address a £30 billion fiscal gap, potentially increasing tax burdens on middle-income households.
- Next week, Prime Minister Sir Keir Starmer refused to rule out extending the freeze on income tax thresholds and told MPs `The budget is one week today and we will lay out our plans`.
- Last week, Chancellor Rachel Reeves U-turned on broader tax plans, spooking financial markets and prompting ministers to consider mansion tax and gambling tax proposals to fill a fiscal gap.
- Extending the threshold freeze would act as fiscal drag, the current freeze expires in 2028, and analysts warn it hits middle‑income households as a 'stealth tax'.
- At PMQs, Kemi Badenoch demanded clarity on whether thresholds would be frozen, and a Conservative Party spokesperson said `The prime minister repeatedly failed to repeat the promise made by the chancellor in her Budget last year to end the freeze on income tax thresholds`.
- The Budget row is already affecting confidence among home buyers and businesses, MPs say, as the prime minister described 'real anxiety' during House of Commons Prime Minister's Questions while Conservative MPs laughed.
16 Articles
16 Articles
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UK PM Starmer does not rule out extending income tax threshold freeze
British Prime Minister Keir Starmer did not rule out extending an income tax threshold freeze when asked about it on Wednesday, amid ongoing speculation about finance minister Rachel Reeves's budget next week.
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