Martin Lewis has previously explained how £10,000 and £20,000 savings thresholds start to mean people pay tax (Image: ITV)

Martin Lewis this afternoon issued a warning to all savers - stating that people could end up paying more tax following today's Budget. Chancellor Rachel Reeves this afternoon announced that anyone who crossed the threshold will pay more tax in the November Budget.

In documents released for the Budget, the Treasury confirmed tax rates on savings income will be increased by 2 per cent at the basic, higher and additional rate from 6 April 2027, and the Starting Rate of Savings limit will be maintained at £5,000 from April 2026 to April 2031.

Mr Lewis said: "Additional 2% tax on savings (and property and dividends)T. So if you pay tax on savings (ie more interest abo

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