Reeves to Freeze Rather Than Lower UK Income-Tax Thresholds
Keir Starmer and Rachel Reeves in Wales, on Nov. 13.
Photographer: Temilade Adelaja/WPA Pool/Getty Images
UK Chancellor of the Exchequer Rachel Reeves will extend the freeze to income-tax thresholds at the budget but will not lower them, people familiar with the matter said.
Reeves had considered cutting the threshold at which people pay the basic and higher rate of income tax in order to help fill a fiscal hole which currently stands at £20 billion ($26.3 billion) following the latest forecasts from her budget watchdog.