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Millions of people who earn under £35,000 face losing HUNDREDS to HMRC. Low to medium earners are set to be hit by Labour Party Chancellor Rachel Reeves' decision to freeze tax thresholds.

Estimates by the Resolution Foundation suggest that workers earning under £35,000 a year could lose £150–£200 a year in take‑home pay. Someone on around £33,000 could see an extra £175 a year go straight to HMRC under a moderate-wage-rise scenario.

And someone closer to £35,000 could lose about £200 annually. Ruth Curtice, Chief Executive of the Resolution Foundation, said: “Sticking to her manifesto tax pledge has cost millions of low-to-middle earners, who would have been better off with their tax rates rising than their thresholds being frozen.”

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