UK chancellor says ordinary people will pay 'a little bit more' as she defends Budget

UK Chancellor Rachel Reeves acknowledged that the recent Budget would ask "ordinary people to pay a little bit more" as she defended a series of tax-raising measures. Thresholds for income tax will be frozen until 2031, a policy known as "fiscal drag," which will result in more people paying higher rates of tax as their wages increase. The tax rates on these sources of income will increase by 2%.

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