Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of extending the freeze on Income Tax thresholds on working people in Surrey Heath constituency.
The previous Government made the decision to maintain income tax thresholds at their current levels from April 2021 until April 2028.
This government is making fair and necessary choices on tax so it can deliver on the public's priorities, including by maintaining personal tax thresholds until April 2031. Everyone is being asked to contribute to support these goals, but the government is keeping the contribution as low as possible by pursuing a programme of reform to fix longstanding issues in the tax system - modernising it, and addressing unequal and unfair treatment, while ensuring the wealthiest contribute more.
The government has published a Tax Information and Impact Note (TIIN) setting out the impact of maintaining income Tax and equivalent National Insurance contributions thresholds.