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State pensioners could pay £380 a year EXTRA in tax under Rachel Reeves’ Budget plot. Department for Work and Pensions ( DWP ) state pensioners could lose HUNDREDS to the taxman, HMRC, after November.

The Chancellor is expected to increase income tax by 2p in her Autumn Budget, while cutting National Insurance (NI) payments by 2p for earnings under £50,270.

It means pensioners, who don’t pay National Insurance, would take a huge hit to their savings. The average pensioner, who has an annual taxable income of £19,023, would pay £380 more in tax every year, according to analysis of HMRC data by consultancy LCP.

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Former pensions minister Steve Webb told The Times: “Millions of pensioners have alrea

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