Freeze could deliver stealth tax raid As they look to balance the books and address a gap in public finances, Prime Minister Rishi Sunak and Chancellor Jeremy Hunt could leave income tax thresholds at their current rate, despite soaring inflation. Thresholds set to stay in place up to and including the 2025/2026 tax year could now be frozen until 2028. With a 3% wage increase, someone currently earning £35,000 faces having paid an additional £1,177 in income tax by 2028, but if wages rise by 5% per year the figure would be more than £2,000 by 2028.