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High earners with salaries exceeding £75,000 could face tax bills running into thousands of pounds more after changes in the Autumn Budget. This would be the impact of Chancellor Rachel Reeves implementing a 2p rise in income tax while reducing National Insurance by the same amount for those on incomes below £50,000.

Earlier this week, the Chancellor indicated that all Brits would need to "contribute" towards her Budget proposals, with many interpreting this as Reeves preparing the ground for a potential departure from Labour Party manifesto pledges.

Reports have indicated that Reeves may proceed with a dual approach of raising income tax rates by 2p while delivering a targeted 2p reduction in National Insurance for earners below £50,000. The move would generate revenue to

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