A drastic plan to hike Income Tax and National Insurance will see millions of people paying more tax, it will be announced today in Rachel Reeves' Autumn Budget. Plans for the Chancellor's spending and taxes for 2026 were published early online minutes before the Chancellor's speech.

In it, the Office for Budget Responsibility has outlined that, as was rumoured, the Government will freeze Income Tax thresholds beyond 2028, according to plans by Rachel Reeves for this Wednesday's Budget. The Conservative Government froze the income tax bands until 2028, and now Ms Reeves is set to extend the freeze until 2030.

Financial firm Rathbones estimates that someone earning £100,000 by April 2025 would face an extra tax burden of £4,043, compared with £2,517 if the freeze ends in April 2028.

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