Budget 2023: Stealth Tax, EV Charge, and Tax Crackdown
Update: 2025-11-26
Description
Chancellor Rachel Reeves unveils significant tax hikes in Budget, with income tax thresholds frozen for three more years, leading to a stealth tax and more higher-rate taxpayers. Electric vehicle drivers face new pay-per-mile tax, while fuel duty remains frozen until 2026. Property owners with homes over £2m will pay new council tax surcharge. Tax collection crackdown aims to close tax gap and bring in additional £2.3bn by 2030. Economic growth forecast at 1.5% per year, with national debt expected to reach 96% of GDP by 2030.
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