Interesting chart on the interaction between inflation and freezing income tax thresholds (fiscal drag). A policy that the OBR thought in March 2021 would raise £8 bn extra tax is now forecast to raise £30 bn!
https://twitter.com/TomWatersEcon/status/1557023097160667136/photo/1
@NickCJ started
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Interesting chart on the interaction between inflation and freezing income tax thresholds (fiscal drag). A policy that the OBR thought in March 2021 would raise £8 bn extra tax is now forecast to raise £30 bn!
https://twitter.com/TomWatersEcon/status/1557023097160667136/photo/1