Rachel Reeves told to extend income tax thresholds freeze in Autumn Budget

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The Chancellor has been told to r aise £12bn in the Autumn Budget - by extending the income tax thresholds freeze. Thinktank Fabian Society says the move us the "best available option" for Labour Party Chancellor Rachel Reeves.

It comes as she seeks to offset impact of weaker economic forecasts. Joe Dromey, the Fabians’ general secretary, argues in a new report that the move is the “best available option” for the chancellor as she seeks to offset the impact of weaker economic forecasts in her 26 November statement.

Dromey describes extending the threshold freeze as “an effective and progressive way to raise over half the funding that she needs, with most coming from wealthier households, and with relatively little political risk”.

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