The Chancellor has previously warned of further squeezes on the public’s pockets to help the country “build back better” – with the £36 billion National Insurance raise already announced to begin next April. But as pundits speculate on the upcoming announcement, what other changes is the Chancellor expected to make?
Council tax increase
Under the Tory Government, council tax has risen every year for the past ten years.
If experience is anything to go by, it’s unlikely Mr Sunak will buck this trend and is rumoured to be raising council tax by up to five percent.
The move would push the annual council tax bill for the average band D property close to £2,000 per year.
READ MORE: UK tax warning: How much National Insurance payments could rise again
University graduates threshold
Graduates could be facing losing hundreds of pounds off their income as the Chancellor is rumoured to lower the pay-back threshold for higher education loans.
Mr Sunak may change the threshold to around £23,000, down from £27,000 – a move that would raise roughly £2 billion a year for the Treasury.
The move would undo an earlier increase, which used to sit at £21,000, implemented under ex Prime Minister Theresa May.