The thing is, more people have been dragged into the 40% bracket or had more of their income fall within the bracket because, checks notes, Rishi frozen the normal inflationary increases for the bracket for six years. If he doesn’t now amend the brackets to take account of inflation this will be one of the largest ever increases in taxation.
This is entirely a situation of his own, intentional, making.
The thing is, more people have been dragged into the 40% bracket or had more of their income fall within the bracket because, checks notes, Rishi frozen the normal inflationary increases for the bracket for six years. If he doesn’t now amend the brackets to take account of inflation this will be one of the largest ever increases in taxation.
This is entirely a situation of his own, intentional, making.