Middle England ‘to suffer’ because of PBR

Britain’s middle classes are the ones who will be most affected by the Pre-Budget Report (PBR), it has been suggested.

Martin Bamford, personal finance writer and chartered financial planner at Informed Choice – a family-owned and managed financial planning firm – remarked that, despite the fact that bank bonuses are to be taxed heavily, it is those with a middle income that will feel the changes most.

Speaking earlier this week to the House of Commons, the chancellor Alistair Darling announced a 0.5 per cent hike in National Insurance contributions for those earning more than £20,000.

This follows a previous rise of 0.5 per cent last year’s PBR.

And Mr Bamfield noted that 2010 could see a climb in income tax bills, as a result of earnings inflation.

“This is quite a sneaky way of raising income tax receipts,” he said, adding that these measures will mean that “it is middle income families who will really suffer”.


Tell others:


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.