Tories insist income tax freeze WILL stay until 2028 with millions more Brits dragged into higher band

MILLIONS of Brits will be dragged into paying more income tax as Jeremy Hunt insists tax thresholds will stay frozen until 2028 under Tory plans.

The Chancellor heaped misery on taxpayers who have been hit hard by the stealth tax meaning individuals will be hit in the pocket for the next four years.

1

He re-committed to keeping the rates the same with an expected three million paying income tax for the first time - and three million moving into the 40 per cent rate.

Labour hasn’t committed to increasing the thresholds despite signalling they want them to go up - meaning both main parties are in line to catch Brits in the tax trap.

Mr Hunt told the BBC: “The tax rises that happened as a result of the pandemic and the energy shock, these two giant shocks, will stay for their allotted time period.

“Let’s be crystal clear, in autumn 2022 I took very difficult decisions, yes to increase taxes, and now in my Budget and Autumn Statement last year, I’ve been able to bring them down.

“I can absolutely undertake that the threshold freeze that we introduced until 2028 will not continue after that.”

More people will be paying tax as wages rise due to inflation and they get dragged into the higher band.

Shadow Treasury Minister Darren Jones told the BBC: “Income tax, national insurance, VAT thresholds — all of these, the current status of affairs, will not be changing under a future Labour government.”

But Labour officials insisted the party’s pledge is on the income tax, national insurance and VAT rates which it says won’t be raising.

Earlier this week, shadow Chancellor Rachel Reeves insised she wants to see taxes come down and an aspiration to see the tax thresholds rise.

She said: “I want to bring taxes down and I want those tax thresholds to go up so people are not paying so much tax on their income but unlike the Conservatives I’m not going to make a promise and a pledge without being able to say where the money is going to come from because that is just a gimmick.”

The intervention comes as the parties traded blows over the main rate of VAT after the Tories accused Labour of planning to increase the levy.

Rachel Reeves blasted the claims saying they were "absolute nonsense".

It came as the Tories launched a new attack advert telling Brits to start saving now if they believe Sir Keir Starmer will enter Downing Street - as each household faces a £2,000 bill to pay for Labour’s unfunded commitments.

Laura Trott, Chief Secretary to the Treasury: “Labour is in complete chaos over their economic policy.

"They have repeatedly refused to rule out raising VAT but are now making up economic policy on the hoof, just like their chaos on Keir Starmer’s £28 billion a year tax grab.

“This is a major and sudden tax change and gives a glimpse into the chaos Labour would bring to the economy.

"We all know with a black hole of £38.5 billion in their spending promises – Labour will increase your taxes by £2,094.”