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The pensions industry is united against the reforms, which are needlessly complicated and would leave the door open to fraudsters, says Tom Selby of AJ Bell. ....
So how will Rishi s budget affect YOU? One in SIX people will be paying higher rate tax by 2026 - twice as many as under Thatcher - while anger grows that low and middle earners will be hit harder than the rich Chancellor Rishi Sunak announced at the Budget that income tax thresholds will be frozen in the years ahead It will drag hundreds of thousands of workers into paying more basic rate as well as higher rate income tax Institute for Fiscal Studies said that by 2026 one in six people will be on higher rate - was just one in 15 in 1990 ....
Chancellor Rishi Sunak has been defending his crucial post-coronavirus Budget package unveiled yesterday IFS says that Mr Sunak s spending plans are implausible he will probably need to raise taxes to balance books The massive furlough scheme will be extended again to the end of September along with other bailouts Income tax thresholds are being frozen until 2026 and corporation tax will rise to 25 per cent from 2023 The government s total spending on response set to reach an unimaginable £407billion by end of next year Mr Sunak said the income tax move was progressive and the right thing to do and rates are still generous ....
At the moment many Britons are unable to travel under the currency lockdown restrictions which state travelling for leisure is “illegal”. However, with the Global Travel Taskforce set to be reinstated within the coming months, there is hope ahead for holidays. easyJet and Skyscanner have already reported a surge in bookings for the summer months after the Prime Minister suggested some international travel may go ahead from May if the Global Travel Taskforce deems it safe and possible. In anticipation, some hopeful holidaymakers may be looking to take advantage of the current rates and swap money in advance. James Lynn, co-CEO and co-founder of travel card Currensea, explained: It may be tempting to take out foreign currency in anticipation of a future holiday, while the exchange rate is favourable. ....
Chancellor Rishi Sunak has unveiled crucial Budget to pave way for the economy to recover from coronavirus Income tax thresholds are being frozen until 2026 and corporation tax will rise to 25 per cent from 2023 Some 1.3million will be brought into basic rate of tax and another million will move into the higher rate The massive furlough scheme will be extended again to the end of September along with other bailouts The government s total spending on response set to reach an unimaginable £407billion by end of next year Mr Sunak vowed to do whatever it takes and use full fiscal firepower to help the economy bounce back ....