IFS Zooms In: The Economy cover image

The Spring Budget Explained

IFS Zooms In: The Economy

CHAPTER

What's Happening to Living Standards?

The 100,000 pound mark for the last 13 years has been the point at which your marginal income tax rate rises from 40% to 60%. The message of all of this is don't tip over 100,000 pounds if you get to 95,000 pounds stop working anymore or use those nice pension freedoms. Even by 2027 living standards would be no higher than in 2019 basically where they were in 2017 that's another lost decade I don't know how many decades we've lost now.

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