The research was conducted by the House of Commons Library and is based on modelling using the latest inflation forecasts from the Office of Budgetary Responsibility.
The Conservative Government’s decision to scrap inflation-linked rises in income tax thresholds will see 210,000 people across London pushed into the top tax rate by 2026, while 155,000 Londoners on the lowest incomes who are currently exempt will start paying income tax.
In total, Londoners will have to fork out an extra £1.8 billion due to the Conservatives’ plans, with the average household facing a £500 hit to their disposable income.
Cllr Paul Kohler, Liberal Democrat parliamentary candidate for Wimbledon, said: “The Conservatives are about to hurt hundreds of hard working families in Wimbledon with this stealth tax hike.
“The Government should be supporting families that are feeling the pressure of rising household bills, not hitting them with higher taxes.
“I am surprised, and disappointed, that Wimbledon’s Conservative MP is not using his voice to speak out against his party’s attempt to raise taxes by the back door.
“Wimbledon residents deserve an MP who will stand up for them when Government decisions threaten their incomes and livelihoods.”
Ed Davey MP, Leader of the Liberal Democrats, said: “The Prime Minister must drop this unfair stealth tax that will hit families who are already feeling the squeeze.
“With the cost of living in London already skyrocketing, this is the last thing households need right now.
“People are already anxious about the rising cost of living and paying their bills this winter. Now they face years of tax hikes under a Tory government that is taking them for granted.
“Swathes of lifelong Conservative voters in Blue Wall areas feel the government is no longer representing them.
“It’s no shock that many are now shifting to the Liberal Democrats instead.”
Photo credit: Liberal Democrats