According to the latest DWP figures, 12.7 million people receive the state pension.
More than one million pensioners are set to be dragged into paying income tax by 2027-28 due to the Government’s stealth tax freeze, the Liberal Democrats have claimed.
As per analysis from the House of Commons Library, an estimated 1.2 million pensioners will be dragged into paying income tax in 2024-25. According to the Institute for Fiscal Studies, 8.5 million people over the age of 65 are now paying income tax, up from roughly 4.9 million in 2010.Separate analysis from the Resolution Foundation has found that freezing income tax thresholds will leave the average taxpaying pensioner £1,000 worse off by 2027-28, or a collective hit of £8 billion.
“Jeremy Hunt’s pensioner-punishing Budget will not be forgotten come the next election. The Conservative Party faces a reckoning at the ballot from older voters sick of being taken for granted.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Poorer’ pensioners to be dragged into Tory stealth tax, Lib Dems sayAccording to the latest DWP figures, 12.7 million people receive the state pension.
Read more »
Politics latest: Chancellor drops election hint - as Lib Dems claim Rishi Sunak has 'bottled' May pollJeremy Hunt yesterday hinted at an autumn election as speculation continues to grow over when the country will head to the polls. The Lib Dems say Rishi Sunak has 'bottled' going to the country in May - when there will be local elections across England.
Read more »
Tory Minister Admits Party Could Accept More Cash From Tory Donor In Diane Abbott Race RowKevin Schofield is Politics Editor of HuffPost UK.
Read more »
Tory donor in Diane Abbott racism row responsible for a fifth of Tory donations last yearRishi Sunak has resisted pressure to return the money donated to the Conservatives by Frank Hester
Read more »
Premier League free-to-air TV: A political party wants some games to be freeThe Lib Dems are pitching a policy that involves some Premier League games being made free-to-air
Read more »
Obesity associated with poorer mental health, especially in womenA trio of mental and physical health researchers with University College Cork's School of Public Health, has found evidence of poorer mental health in middle-aged to older people with obesity, independent of disease and lifestyle factors.
Read more »