United KingdomA recent report by former pensions minister Sir Steve Webb reveals that the number of UK pensioners paying income tax at the higher rate of 40% or more has more than doubled in five years, reaching over 977,000. This increase follows the freezing of the personal tax allowance in 2021 by the previous Conservative government, which remains unchanged until 2031. The report notes that 115,000 pensioners now pay the additional 45% tax rate, up from 39,000 in 2021/22. While the government has pledged to exempt those relying solely on the state pension from paying tax once it exceeds the frozen allowance, experts warn that many retirees will face significantly higher tax bills, requiring greater savings for retirement.
Bias read (Center): The article presents factual data on tax rates affecting pensioners without overtly criticizing or praising either political parties. It cites a former government minister and includes a quote from him, while also mentioning the government’s current stance. There is no clear ideological slant in the
