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MILLIONS of hard-working Brits will be hit by a stealth tax rise from Wednesday's Budget. Chancellor Rishi Sunak announced a freeze to income tax thresholds, meaning Brits will no longer benefit from planned increases to the amount that can be earned tax-free. In his Budget today, Mr Sunak said the tax-free personal allowance - the amount you can earn before paying tax - will remain at £12,500. For higher rate taxpayers, the personal allowance will be held at £50,000. Although Mr Sunak stopped short of increasing taxes, a freeze to these thresholds is essentially a pay cut, once you take into account the rate of inflation. Mr Sunak said: "Nobody’s take home pay will be less than it is now, as a result of this policy. "But I want to be clear with all Members that this policy does remove the incremental benefit created had thresholds continued to increase with inflation. Continue reading Budget 2021: Pay cut for MILLIONS of hard-working Brits as Rishi Sunak FREEZES income tax From Brexit breaking news to HD movie trailers, The Sun newspaper brings you the latest news videos and explainers from the UK and around the world. Become a Sun Subscriber and hit the bell to be the first to know Read The Sun: http://www.thesun.co.uk Like The Sun on Facebook: / thesun Follow The Sun on Twitter: / thesun Subscribe to The Sun on Snapchat: / 1633225139