Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of increasing income tax bands on economic productivity.

The Government is committed to keeping taxes for working people as low as possible while ensuring fiscal responsibility and so, at our first Budget, we decided not to extend the freeze on personal tax thresholds.

This decision was reflected in the OBR’s spring 2025 forecast which can be found here: https://obr.uk/economic-and-fiscal-outlooks/.