18,000 pensioners in North Shropshire to be hit by £1,000 stealth tax bombshell

More than 18,000 North Shropshire pensioners are set to be hit by a £1,000 stealth tax bombshell following the budget earlier this week.

Research by the Resolution Foundation think tank has found pensioners are set to lose out from this week’s Budget. This is due to the Government’s decision to freeze income tax thresholds, which will lead to a £8 billion tax bombshell for pensioners across the country by 2027-28 – an average of £1,000 each.

Further analysis by the Liberal Democrats suggests that this will hit the over 18,000 income tax payers out of the 26,000 pensioners in North Shropshire.

Helen Morgan MP has previously called on the government to double the Winter Fuel Allowance to offer extra help to pensioners, paid for by a proper windfall tax on the oil and gas companies. She has also spoken out against plans to end the Triple Lock, a policy that was mooted by the Chancellor in the run up to the last budget.

The MP now claims that this latest stealth tax will ‘hit pensioners in their pocket’ and should be stopped.

Helen Morgan, MP for North Shropshire, said, “Pensioners who have worked hard and paid taxes all their lives are now being punished by this Conservative government with a £1,000 stealth tax.

“Many elderly people are already struggling to make ends meet as heating bills and the cost of the weekly shop go through the roof. In a rural area like North Shropshire, where many homes are off-grid and harder to heat, the last winter was particularly punishing.

“This latest change to tax rules will hit pensioners in their pocket in the middle of a cost-of-living crisis, and must be halted.”