Raise £12bn in budget by extending income tax thresholds freeze, says thinktank

<p>Fabian Society says move ‘best available option’ for chancellor as she seeks to offset impact of weaker economic forecasts</p><p>The influential Labour thinktank the Fabian Society is urging Rachel Reeves to raise £12bn in next month’s budget by extending the freeze on income tax thresholds for another two years.</p><p>Joe Dromey, the Fabians’ general secretary, argues in a <a href="https://fabians.org.uk/publication/taxing-questions/">new report</a> that the move is the “best available option” for the chancellor as she seeks to offset the impact of weaker economic forecasts in her 26 November statement.</p> <a href="https://www.theguardian.com/uk-news/2025/oct/25/raise-12bn-in-budget-by-extending-income-tax-thresholds-freeze-says-thinktank">Continue reading...</a>