Fiscal drag hits taxpayers

Posted on 05 Feb 2024
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Workers hit by frozen thresholds as tax bills soar

Households in the UK are paying nearly £3,000 more in tax on average since a stealth tax raid by ministers, according to new analysis. The personal tax bill has risen by over 32% from £267bn to £353bn since Boris Johnson became Prime Minister in 2019. This includes income tax, National Insurance contributions, capital gains tax, and inheritance tax. Per family, this works out as an average tax bill of £12,533, up from £9,605 in 2019. The freeze on tax thresholds has contributed to the £2,900 increase, with workers hit by fiscal drag.

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