The Deputy First Minister of Scotland Shona Robison has announced a new 45 per cent tax band.
The advanced tax band will be set at 45 per cent and affect individuals earning more than £75,225 a year.
Furthermore, the top tax of tax, levied on people earning more than £125,140 a year, will rise by one percent in 2024 to 48 percent.
The three lowest tax rates will not be hiked, while the starter and basic bands will rise in line with inflation.
Ms Robison outlined the Scottish Government’s Budget plans for 2024
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Shona Robinson said the Office for Budget Responsibility (OBR) projection for inflation for 2024 will be three percent.
However, Ms Robinson said she wanted to “go further than that” with her plans for country’s finances.
She said: “That’s why I will fund an above inflation five per cent council tax freeze – delivering over £140million of additional investment for local services.
“Combined with the other support being provided to local government, this will increase their overall funding by six percent since the last budget, taking local government funding to a new record high of over £14billion.”
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