In other words, by the start of the next decade, the average worker should have been able to take home £17,440 of their wages before they started paying tax on it. Instead, that threshold will be frozen at £12,570.This policy – known as “fiscal drag” – will bring an additional five million people into higher and additional tax bands. These are nurses, teachers and supermarket managers who may not otherwise be paying these higher rates.Last month, it said the “higher level of the tax take increases the risk ...