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Home Politics

Budget 2021: Tax hikes risk leaving average workers worse, IFS says

by BBC News
October 28, 2021
in Politics
Reading Time: 3 mins read
0

Middle-income families will be worse off next year due to rising costs and tax hikes, says an independent economic think tank.

Paul Johnson, director of the Institute for Fiscal Studies (IFS), said inflation and rising income taxes would nullify small wage increases.

The government meteorologist warned Wednesday that the cost of living could rise at the fastest rate in 30 years.

The chancellor acknowledged in his budget that families are under pressure.

Related topics

  • Economy
  • UK economy
  • Budget 2021
  • Institute for Tax Studies

More on this story

  • The price increase could reach the highest rate of the last 30 years

    Published
    16 hours ago
  • Eight ways budget affects you and your money

    Published
    17 hours ago

Read More about Politics News here.

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This Article is Sourced from BBC News. You can check the original article here: Source

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