Teachers and nurses among 7.8 million facing tax hike with one in five to pay 40 per cent rate by 2027
MPs have criticised the plans, with the current tax burden already at its highest since the Second World War.
Former Cabinet minister Simon Clarke said: 'We think we are suffering with our income tax burden now, but this analysis shows the worst is yet to come. "We need to cut spending and taxes to ease the pressure on family finances, and we need to have a moment of levelling with the public that our current economic trajectory is simply unsustainable.
"That effort needs to begin before the next election, and we need to set out a clear plan to bring income tax rates down and unfreeze the thresholds at which people pay the different rates to reflect the stealth effects of inflation." Meanwhile, former Brexit negotiator Lord Frost, who may run as an MP, has warned against becoming distracted from "'tax, spend, and regulation".A Treasury spokesperson said: "After borrowing hundreds of billions to support the economy during the pandemic and Putin's energy shock, we had to take some difficult decisions to repair the public finances and get debt falling.
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