Britain’s Treasury chief Rachel Reeves stood up Wednesday to deliver a crucial tax-raising budget statement to lawmakers following an unprecedented leak from the government’s independent forecaster that basically laid out her measures.
The biggest change in terms of money raised, according to the leak from the Office for Budget Responsibility (OBR), is freezing the levels at which earners pay Britain’s different tax levels, meaning as wages rise, more people fall into higher tax brackets.
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UK’s Reeves unveils tax plan amid embarrassing budget leak
