MILLIONS of hard-working Brits will be hit by a stealth tax rise from Wednesday's Budget.

Chancellor Rishi Sunak announced a freeze to income tax thresholds, meaning Brits will no longer benefit from planned increases to the amount that can be earned tax-free.

In his Budget today, Mr Sunak said the tax-free personal allowance - the amount you can earn before paying tax - will remain at £12,500.

For higher rate taxpayers, the personal allowance will be held at £50,000.

Although Mr Sunak stopped short of increasing taxes, a freeze to these thresholds is essentially a pay cut, once you take into account the rate of inflation.

Mr Sunak said: "Nobody’s take home pay will be less than it is now, as a result of this policy.

"But I want to be clear with all Members that this policy does remove the incremental benefit created had thresholds continued to increase with inflation.

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Budget 2021: Pay cut for MILLIONS of hard-working Brits as Rishi Sunak FREEZES income tax

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