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A warning has been issued for UK households with "average" savings who face being punished by HMRC after a move in the Autumn Budget from the Labour Party government tomorrow.

The HMRC Personal Savings Allowance (PSA) allows most people to earn up to £1,000 in interest without paying tax on it. The allowance has been frozen since it was introduced in 2016 and is not expected to be lifted in the Budget.

Chancellor Rachel Reeves will deliver her Autumn Budget on Wednesday, November 26, to much speculation and fanfare. Rumours are already swirling just 24 hours out from Ms Reeves delivering her Budget in the Commons.

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And the higher inflation rates will mean thousands more savers will be

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