UK Economy: BUDGET: Summary of the leaked OBR report before the Budget

BREAKING: The OBR’s report has been leaked in full before the Budget in an unprecedented move

Taxes will rise by £26bn by 2029 and the income tax thresholds will be frozen for three more years

– Income tax and National Insurance thresholds frozen for an additional three years until 2029-30

– Pension salary sacrifice capped at £2k a year for employee and employer contributions from 2029

– New 3p-per-mile-tax on electric vehicles from 2028

– Mansion tax from 2028 on homes over £2m

– Two child benefit cap to be lifted from April 2026

– Gambling tax changes including a rise in Remote Gaming Duty and a new General Betting Duty, worth £1.1bn

– Freeze student loan repayment and interest rate thresholds for three years from 2027-2028

– Dividend taxes up by 2 percentage points for basic and higher rate taxpayers

– Fuel duty frozen for another 5 months before being increased in stages from September 2026

 

Read the full report here:
Office for Budget Responsibility:

Economic and fiscal outlook

https://x.com/politlcsuk/status/1993657821544788295?s=46

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