The Chancellor, John Healey, is raising the tax rates on income from property and savings by a further two percentage points from April 2027, he tells the Commons in his Budget statement.
The rise comes on top of increases to those rates already legislated for April 2027. Healey said there would be no change to tax on dividends or on income from employment.
"I'm increasing the rates on tax on income from property and savings by a further two percentage points from April 2027, with no change to tax on income from dividends and no change on tax to income from employment."
His words were reported by MoneyWeek.
Healey also said that "88% of people will pay no more tax on their savings", according to LBC. That figure has not been independently checked.
The new rates, and how much the measure is expected to raise, have not yet been published. The rise had not been flagged in any reports ahead of the Budget.