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Chancellor John Healey will deliver the Autumn Budget. I wouldn’t hold my breath for a big giveaway.
My feeling? This could be a difficult Budget, and an even tougher winter for households already watching every pound. But with bills, food and everyday living costs squeezing people, the last thing most of us need is another hit to our disposable income.
What's being rumoured, and what can you do?
The Budget rumours worth watching
Income tax and frozen thresholds. The government has pledged not to increase the main income tax rates, but that doesn't mean your tax bill can't rise. When thresholds stay frozen while wages increase, more of your earnings can be dragged into tax. There is also speculation about reviewing the personal allowance, although nothing new has been confirmed.
HMRC taking money from bank accounts. This is one of the more controversial stories. HMRC already has powers to recover certain unpaid tax debts directly from accounts, with safeguards. Reports suggest those powers could be expanded to cover much smaller debts where people repeatedly fail to engage. That isn't unlimited access to everybody's savings, but the safeguards matter.
