In a blow for many, higher interest rates will mean around 3.4million people are expected to receive a bill for interest made on their savings in the current tax year, up from 3.1million five years ago.

Labour chancellor Rachel Reeves urged to act as experts warn many ordinary savers being ‘pulled into paying tax on their hard-earned savings’

In a blow for many, higher interest rates will mean around 3.4million people are expected to receive a bill for interest made on their savings in the current tax year, up from…