Jeremy Hunt has used his autumn assertion to announce billions of kilos in spending cuts and tax rises. Nonetheless, most of the modifications are being achieved by stealth and with out elevating headline tax charges.
What’s fiscal drag?
Within the push for funds financial savings, the chancellor has used a tactic recognized by economists as “fiscal drag” – when tax thresholds don’t enhance with the rising value of residing. This in flip has the impact of pulling extra folks into larger tax brackets.
Many tax and profit…
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