1 week ago
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Mon, 24 Mar 2025, 5:10 americium 1 min read
Chancellor Rachel Reeves is acceptable to present the spring connection connected Wednesday, arsenic the UK system sends mixed signals. Economists are raising concerns that Reeves has efficaciously depleted the £9.9bn fiscal buffer she had built into past year’s budget, leaving her with small country to manoeuvre. This puts her successful a presumption wherever she indispensable enactment — either done taxation increases oregon by cutting nationalist spending.
Reports suggest that Reeves is leaning towards the latter, with the outpouring connection apt to see astir £6bn worthy of nationalist spending cuts.
However, speculation continues to swirl astir whether Labour could question to people higher earners by adjusting the income taxation threshold for the further 45% rate. Currently acceptable astatine £125,140, determination are hints that this threshold could beryllium lowered, perchance expanding the fig of taxpayers successful this higher bracket.
Further uncertainty surrounds the aboriginal of the currency ISA, with concerns mounting that its tax-free savings payment could look important restrictions successful the coming statement.
With the UK's fiscal argumentation facing pugnacious choices, volition chancellor Reeves edifice to raising taxes? Cast your ballot successful the canvass below.
Yahoo UK's canvass of the week lets you ballot and bespeak your spot of feeling connected 1 of the week's blistery topics. After the canvass closes, we'll people and analyse the results each Friday, giving readers the accidental to spot however polarising a taxable has go and if their presumption chimes with different Yahoo UK readers.
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