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Why this is the most extreme ‘fiscal drag’ in UK income tax

Ed Monk

Ed Monk - Fidelity International

This week, we're talking income tax - and why, whatever happens in the Budget next month - it is already on the rise for many people. What is fiscal drag? And what is the worst example of it in the tax system?

Important information: The value of investments and the income from them, can go down as well as up, so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. Overseas investments will be affected by movements in currency exchange rates. Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for the purposes of illustration only. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.


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