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Autumn Budget 24: Income tax threshold freeze to be lifted in 2028/29
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In the first Labour Budget for 14 years, Chancellor Rachel Reeves says economic stability must be restored. But extending the income tax freeze would hurt working people, the chancellor said. Reeves, the UK's first female chancellor, has already confirmed that the National Living Wage will rise in April, with rates for over-21s set to go up to £12.21 an hour, an increase of 6.7%. In addition, the National Minimum Wage will rise for people aged between 18 and 20 years old from £8.60 to £10. Apprentices will get the biggest pay bump, with hourly pay increasing from £6.40 to £7.55. ...
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