Nathan Stone

The Cost of Britain 🇬🇧 Here is the single MADDEST number in today’s Budget - and the Chancellor didn’t mention it once in his speech 👀 From April, the National Living Wage rises to £13.21 an hour. For a full-time 40-hour week, that is £27,477 a year. That’s GREAT right?? 🤔 At the same time, today’s Budget leaves the 40% Higher Rate tax threshold FROZEN at £50,270 right through until April 2031. Do the maths on that: In Britain today, earning just 1.8x the minimum wage now classes you as a Higher Rate taxpayer. When the 40% tax band was created, it was meant for the top 3.5% of earners - bank directors and senior executives. Today, a skilled tradesperson, experienced nurse, police sergeant or salaried worker earning 1.8x the legal minimum wage hands over: ❌ 42p of every extra pound to HMRC (40% Income Tax + 2% NI) ❌ 51p of every extra pound if they have a student loan That single threshold freeze is quietly pulling an extra £34 billion a year out of working people’s pay packets - without the government ever having to announce a headline tax rise. Pushing minimum wage up from the bottom Whilst freezing the 40% tax trap at the top How can earning 1.8x minimum wage possibly be classed as a “higher earner” in 2026?