No. It's a discretionary policyHistorically, do tax bands and credits always get indexed for inflation?
Sadly, no. Failing to do so is the classic way that governments implement a sneaky tax increase while trying to avoid the blame for it.Historically, do tax bands and credits always get indexed for inflation?
Ex ante or ex post? Inflation often over- and under-shoots Budget-day expectations. You have to look at these things over a number of years.It would be great if someone would develop a simple calculator website to use - that takes into account inflation and tax bands indexing - to calculate what inflation and tax-band adjusted "same pay" from year to the other would look like.
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