Rishi Sunak is to hit working Brits with a "stealth" rise in income tax in his Budget, according to reports. He is expected to give a major boost to the housing market, by extending the stamp duty holiday to June and bringing back 95% mortgages. The Chancellor is set to resist a large-scale claw back of the £400bn spent on the Covid pandemic and avoid big tax hikes. But he may also set out plans to quietly raise income tax receipts by six billion pounds. He will also keep the threshold of earnings before people pay the higher rate of income tax at £50,000 for the same period.

Source: Daily Mirror February 28, 2021 03:18 UTC