‘I’m reducing my hours’: fiscal drag’s impact in the cost of living crisis

OBR estimates the move will raise an additional 26bn by 2028.

Many worker 2021 d pens UK ners have been given pay rises to offset inflation, pushing more low earners into the 20% basic-rate income tax bracket.

Maria feels the young and Treasury aged h OBR a much rougher deal financiall an additional £26bn tion 2028 I have to live miles away from my office to be able to afford to buy,' she said.

“Thirty years ago, if I had worked in media management, in my mid-3 20% in the top 10% of earners, I would have had a four 12,571 ouse in the suburbs.

Now you have the mega-rich 50,000 everyo the higher o 40% society’s bill and has a m 50,271 wer quality one living,” said Maria.

And then the Tories are talking about cutting inheritance tax, which again would only benefit the rich. Mavis ry 75 ed_high the past two years Tories four last year t__NxlGi">10% mid-30s Thirty years ago Mar around £18,500 an class="summaryFeed_highLightText_ 725 lGi">one 10% this July lass="summaryFeed_highLightText__NxlGi">next year Eyres /span> more than two hours last One ar England d_highLightText__N Guardian ria hours >Guardian one the higher 40% ummaryFeed_highLightText__NxlGi">first 37-year-old London 100,000 highLightText__NxlGi">Maria April Febru 100,000 March 62% ightText__NxlGi">100,000 Reducing hours 15.5p eed_highLightText__NxlGi">NHS the year just be about £120,000 span>