YOU WILL 'PAY THE PRICE' FOR 'VICIOUS' OAP TAX RAID

160,000 sign petition warning Labour not to target pensioner income in the Budget

- BY MARTYN BROWN Political Editor

RACHEL Reeves must spare pensioners "vindictive" tax rises or Labour will pay at the ballot box, campaigners are warning.

They fear the Budget will hike income tax and extend the freeze on the lower tax threshold, clobbering OAPS whose winter fuel payment was snatched by the Chancellor last year. The double tax whammy would prove even more unpopular, says Dennis Reed, director of the Silver Voices campaign group for over-60s.

He said: “Our members are spitting blood over the intended attack on their living standards in the coming Budget.

“We support taxing the very wealthy to improve public services but these tax hikes, likely to target pensioners, will hammer all older people on low and modest incomes.

“Our members ask, 'What have we done to deserve this vicious and vindictive treatment in our twilight years?'”

Nearly 165,000 people have already signed a petition demanding a stop to the so-called “retirement tax” before the November 26 Budget.

The Chancellor is desperately looking for ways to plug an estimated £30billion black hole in the nation’s finances.

The basic tax threshold has been £12,570 since Chancellor Rishi Sunak froze it in 2021. If it had risen in line with inflation as it did previously tax would not kick in until income hit £15,517, a difference of £2,947.