Tax calculator: See how Rachel Reeves' Budget will affect you
Briefly

Tax calculator: See how Rachel Reeves' Budget will affect you
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"The Labour chancellor introduced a raft of tax increases and spending cuts at the much-anticipated fiscal event, as well as an end to the controversial two-child benefit cap. Around 1.7 million earners are set to pay more tax by 2029/30 after Ms Reeves announced that Labour would be extending the freeze on income tax thresholds for three more years, until 2030/31."
The Budget introduces multiple tax rises and spending cuts while ending the two-child benefit cap. Around 1.7 million earners will face higher taxes by 2029/30 after the decision to extend the freeze on income tax thresholds until 2030/31. A new council tax surcharge targets owners of high-value homes as a form of mansion tax. Employer salary-sacrifice pension contributions above £2,000 will become subject to national insurance from 2029. The measures create roughly £22bn of fiscal headroom on top of £40bn of prior tax rises and push the tax-to-GDP ratio toward 38% by 2030/31. Quality journalism is offered without paywalls and relies on donations.
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