How 3.3m more workers have been pulled into paying higher rate of tax in past five years

Over the past five years, a staggering 3.3 million workers have been pushed into higher tax brackets due to a freeze on income tax thresholds since 2021. This shift means more people are now paying a higher rate of income tax, which could have significant implications for their disposable income and financial planning. The situation underscores the broader economic impact of tax policy decisions, highlighting how seemingly small adjustments can have wide-reaching effects on individuals' financial health and the overall economy.