Sunday 15 May 2022 11:04 PM Rishi Sunak's £7.5bn 'stealth' tax raid: Frozen thresholds add to pressure on ... trends now

Sunday 15 May 2022 11:04 PM Rishi Sunak's £7.5bn 'stealth' tax raid: Frozen thresholds add to pressure on ... trends now
Sunday 15 May 2022 11:04 PM Rishi Sunak's £7.5bn 'stealth' tax raid: Frozen thresholds add to pressure on ... trends now

Sunday 15 May 2022 11:04 PM Rishi Sunak's £7.5bn 'stealth' tax raid: Frozen thresholds add to pressure on ... trends now

Rishi Sunak’s £7.5bn ‘stealth’ tax raid: Frozen thresholds add to pressure on families already struggling with cost of living crisis Chancellor Rishi Sunak has frozen tax thresholds across the board in 'stealth tax' This means as pay rises with soaring prices than workers are in high tax brackets Rising property prices also mean more in inheritance tax and stamp duty

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Britons are set to pay more than £7.5billion in ‘stealth taxes’ this year amid soaring inflation and tax bracket freezes. 

Families already seeing wage rises eaten away by the cost of living crisis will be contributing even more to the Treasury’s coffers. 

Chancellor Rishi Sunak has frozen tax thresholds across the board, meaning that as pay rises to keep track with soaring prices, more workers will be pulled into higher tax brackets. 

Rising property prices are also forcing Britons to pay higher levels of inheritance tax and stamp duty, as thresholds on those levies have also been frozen. 

These stealth taxes will cost families a total of £7.5billion this year alone, the Centre for Economics and Business Research (CEBR) has found. 

Chancellor Rishi Sunak (pictured) has frozen tax thresholds across the board, meaning that as pay rises to keep track with soaring prices, more workers will be pulled into higher tax brackets

Chancellor Rishi Sunak (pictured) has frozen tax thresholds across the board, meaning that as pay rises to keep track with soaring prices, more workers will be pulled into higher tax brackets

The Bank of England warned earlier this month that inflation will soon peak at a 40-year high of more than 10 per cent

The Bank of England warned earlier this month that inflation will soon peak at a 40-year high of more than 10 per cent 

Cost of living ‘is Boris’s No 1 priority’

Supporting families through the cost-of-living crisis is Boris Johnson’s No1 priority, the PM’s policy chief insists. 

Andrew Griffith, director of the No10 Policy Unit, accepted that many of the Government’s proposals to address soaring bills were longer-term measures. 

But he insisted Mr Johnson was determined to help families in the short term – such as through the council tax rebate and cut to fuel duty. 

He told The Daily Telegraph: ‘What you’ve got to look at with a Queen’s Speech and a legislative programme, particularly in year three of the Government, is what are the things that are going to make a difference. Potentially some are in the medium and longer term

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