Fiscal drag: how can employers offset the challenges of a difficult economy?
Employee Benefits
APRIL 22, 2024
In his Autumn Statement last November, Chancellor Jeremy Hunt extended the freeze on national insurance (NI) and income tax rate thresholds until April 2028. This can contribute to fiscal drag, which occurs when taxpayers are ‘dragged’ into paying tax, or a higher tax rate. This could add further strain to employees.
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