Move to lower threshold from £150,000 would be in line with Hunt’s vow that tax rises should hit ‘broadest shoulders’
Jeremy Hunt is expected to increase the number of people paying the highest rate of tax by lowering the threshold from £150,000, according to Treasury sources.
A Treasury source said there was an option to raise the headline rate of tax but a “significant lowering” of the threshold for the highest earners would be more likely. However, the Treasury has ruled out changes to higher-rate pension tax relief, over concerns it could disincentivise people to save and would hit middle earners.
“Even during austerity budgets went up, but the rates will be a lot lower than they might have been,” one Whitehall source said.
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