I think that tax credit withdrawal still exists, so now the effective tax rate is 40% from £50k to £100k, then 60% from £100k to £125k, and 40% above that.
Also, despite 10% inflation they’ve frozen the tax bands, so all workers earning above about £12k will have more of their income pulled into higher tax bands.
So they’re left with that artificially high rate which blocks progression, and most workers up to about £150k will pay more.
Also, despite 10% inflation they’ve frozen the tax bands, so all workers earning above about £12k will have more of their income pulled into higher tax bands.
So they’re left with that artificially high rate which blocks progression, and most workers up to about £150k will pay more.