
Ensure all welfare and benefits payments, allowances and subsidies are subject to identical personal tax, national insurance rates and starting thresholds as earned and pension income
Rachel Reeves
Chancellor
Replace income tax with a flat, standard annual payment
Remove taxes on personal savings & private pensions
Reduce income tax rate for parents
Create a rising tax rate system and set an effective maximum income level
End the freeze on income tax thresholds & adjust annually, indexed to inflation
Ensure all welfare and benefits payments, allowances and subsidies are subject to identical personal tax, national insurance rates and starting thresholds as earned and pension income
Replace income tax with a flat, standard annual payment
Remove taxes on personal savings & private pensions
Reduce income tax rate for parents
Create a rising tax rate system and set an effective maximum income level
End the freeze on income tax thresholds & adjust annually, indexed to inflation