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the retirees were afraid of Reeves’ Budget

the retirees were afraid of Reeves’ Budget

Their situation is reminiscent of that of retiree Rob Trewhella, as he too was forced to work well into retirement.

“Labour has put the fear of God in everyone,” he said.

The 68-year-old quit his job as a tree surveyor after the pandemic, but has since started working part-time as a taxi driver. The shift pattern is having a detrimental effect on his health as he struggles with his blood pressure and diabetes, but he is making ends meet.

He earns £2.80 above the cut-off point for winter fuel payments and is therefore too worried to turn on his heating.

Mr Trewhella is “very concerned” about the budget, and especially the possibility of that The tax thresholds remain frozen as he receives the full new state pension.

Income tax thresholds were frozen until 2028 by former Chancellor Jeremy Hunt, but Ms Reeves is expected to extend the freeze until 2030.

At current rates, income is taxed at 20% above £12,570, 40% above £50,271 and 45% above £125,140.