The Resolution Foundation warns that an impending rise in UK payroll taxes could exacerbate wage stagnation, significantly impacting lower-earning workers. By 2028, real weekly wages are expected to be only £13 higher than two decades ago, hindered by inflation and stagnant pay during the current parliamentary term. This analysis aligns with findings from the Office for Budget Responsibility regarding Chancellor Rachel Reeves' plans to raise £26 billion through increased National Insurance contributions.
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