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flag UK freezes tax thresholds until 2030, raising billions as wages rise.

flag The UK government has extended the freeze on income tax and National Insurance thresholds until 2030/31, with personal allowance at £12,570 and higher rate threshold at £50,270. flag This fiscal drag is expected to raise £8.3 billion annually by 2029/30 as rising wages push more people into higher tax brackets. flag Chancellor Rachel Reeves cited wage growth outpacing inflation and reduced hospital waiting lists but acknowledged past economic challenges. flag The government also accepted a minimum wage rise, delivering a £900 annual increase for full-time workers over 21. flag Employer NI thresholds will remain frozen for three years.

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