ALEX BRUMMER: Reeves will have to turn to wealth taxes to plug the £30bn black hole
6 months, 4 weeks ago

ALEX BRUMMER: Reeves will have to turn to wealth taxes to plug the £30bn black hole

Daily Mail  

Rachel Reeves recognises that if she is to march into No 11 Downing Street on July 5 it would be a big mistake to hit voters with huge tax rises straight away. Big money: The Tories calculate that if Labour’s spending promises are totted up, the party will need to raise a further £38.5bn The proposal offers endless possibilities, but closing loopholes can have disastrous consequences. Labour’s plan to abolish tax breaks for North Sea oil exploration would simply kill new investment stone-dead and drive big oil to more friendly waters such as deep water drilling in the Gulf of Mexico. Here are five ways Labour could make Britain poorer by closing so-called loopholes, which amounts to a polite name for tax increases: VAT: This is the biggest pot of gold, identified by the Institute for Fiscal Studies, which calculates that reduced rates and exemptions cost the Exchequer £100 billion.

Tax Labour Taxes Reeves Hole  reeves  hole  turn  cent  closing  brummer  big  loopholes  alex  30bn  tax  taxes  labour  plug  black  rate  wealth

History of this topic

CBI chief hits out at Reeves after firms face ‘heavy burden’ from tax rises
4 weeks ago

CBI chief hits out at Reeves after firms face ‘heavy burden’ from tax rises

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves’ Budget caught firms …

John Lewis chief attacks Reeves over ‘two-handed’ tax grab
1 month ago

John Lewis chief attacks Reeves over ‘two-handed’ tax grab

The Telegraph  

The Treasury also delayed a planned overhaul of the business rates system to 2026, having pledged to reform the way companies are taxed on their properties to support retailers. It means many retailers, including John Lewis, will have to pay higher business rates bills for at least another year. By contrast, Stuart Machin, chief executive of M&S, last month warned …

Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over Budget
1 month, 1 week ago

Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Price hikes and job cuts are inevitable following Labour’s Budget, business …

Reeves accused of business ‘betrayal’ as top bank warns over tax hikes
1 month, 1 week ago

Reeves accused of business ‘betrayal’ as top bank warns over tax hikes

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. In a note to clients seen by The Daily Telegraph, economists at the bank said: …

Rachel Reeves driving up prices with tax and spend Budget, warns Bank of England
1 month, 2 weeks ago

Rachel Reeves driving up prices with tax and spend Budget, warns Bank of England

The Telegraph  

In his first assessment of the Chancellor’s maiden Budget, Governor Andrew Bailey said a “substantial” increase in public spending and tax changes that “clearly raise the cost of employment” will drive prices higher over the next three years. It came as shares on Wall Street continued to scale record highs amid expectations of a fresh wave of tax cuts and …

How the ‘tractor tax’ became a problem for Rachel Reeves
Trending News
1 month, 2 weeks ago

How the ‘tractor tax’ became a problem for Rachel Reeves

The Independent  

Rachel Reeves is caught in the crosshairs of a piece of alliteration that threatens to unravel part of her Budget: the “tractor tax”. If you have a sizeable enough investment portfolio to pass on – or even just a modest house in London or South East England – a bequest to anyone other than your spouse or civil partner will …

US employers rethink plans for UK after Reeves’s £25bn jobs tax
1 month, 3 weeks ago

US employers rethink plans for UK after Reeves’s £25bn jobs tax

The Telegraph  

American bosses are reconsidering their UK investment plans after Rachel Reeves launched a £25bn tax raid on employers, a transatlantic trade body has warned. Duncan Edwards, the chief executive of British American Business, said the Chancellor’s move to increase National Insurance costs had made the UK “less attractive”. “For the UK leaders of American-owned companies looking to get more investment …

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank
1 month, 3 weeks ago

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank

Daily Mail  

Even before the dust has settled on Chancellor Rachel Reeves's Budget, it is becoming increasingly apparent that it will be disastrous for Britain. Imposing tax increases on a scale rarely seen outside of wartime, recession or pandemic, and embarking on a colossal borrowing binge to fund public services, she has taken a huge gamble with the economy. The Chancellor Rachel …

Labour's tax on farmers may prove to be the defining blunder of the Reeves' budget, warns ALEX BRUMMER
1 month, 3 weeks ago

Labour's tax on farmers may prove to be the defining blunder of the Reeves' budget, warns ALEX BRUMMER

Daily Mail  

This green and pleasant land is devoted to its farmers. It may not be the intention but the levy imposed by Rachel Reeves on farms valued at more than £1million may prove a fast track to releasing land for Labour’s housebuilding. Labour’s failure to understand rural Britain may prove to be a defining blunder of Reeves’ budget. The group’s focus …

Rachel Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’
1 month, 3 weeks ago

Rachel Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “How the Budget red book can include the sentence ‘the …

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest
1 month, 3 weeks ago

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery According to the Office for …

Rachel Reeves gambles on £40bn tax rise in her first Budget
1 month, 3 weeks ago

Rachel Reeves gambles on £40bn tax rise in her first Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves gambled …

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns
1 month, 3 weeks ago

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Johnson said: “The growth forecasts are pretty awful, there …

Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden
1 month, 3 weeks ago

Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden

Daily Mail  

This video is no longer available This video is no longer available Rachel Reeves admitted Brits will see lower wages as a result of her Budget mega-raid today - amid warnings she will be back for more. Rachel Reeves on a visit to a hospital in Coventry with Keir Starmer today after delivering her Budget The OBR said the Budget …

Labour's tax bomb leaves Britons £300 worse off: UK faces highest tax burden ever, businesses are battered by the Budget, wages will fall and inflation will rise
1 month, 3 weeks ago

Labour's tax bomb leaves Britons £300 worse off: UK faces highest tax burden ever, businesses are battered by the Budget, wages will fall and inflation will rise

Daily Mail  

Britain's growth prospects took a dive last night after Rachel Reeves' £40 billion tax bomb. In the first Labour Budget for 14 years, Ms Reeves: Launched a £25 billion raid on employers' National Insurance, breaking a manifesto pledge not to raise a levy she previously called a 'jobs tax'; Announced an immediate £25 billion cash injection for the NHS, despite …

Reeves uses first Budget to hike taxes, increase...
1 month, 3 weeks ago

Reeves uses first Budget to hike taxes, increase...

Daily Mail  

Rachel Reeves raised taxes to a historic high and sent borrowing soaring as she gambled on increased spending to boost growth and repair public services. But despite Labour’s promises to protect “working people”, a £25.7 billion increase in national insurance contributions paid by employers is likely to reduce wages and lead to job losses. Rebuilding Britain.” But Tory leader Rishi …

Reeves uses first Budget to hike taxes, increase borrowing and boost spending
1 month, 3 weeks ago

Reeves uses first Budget to hike taxes, increase borrowing and boost spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But despite Labour’s promises to protect “working people”, a …

Reeves goes after employers with young workers the clear winners
1 month, 3 weeks ago

Reeves goes after employers with young workers the clear winners

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves took aim …

Millions of working people will suffer from Reeves’s first Budget, warns OBR
1 month, 3 weeks ago

Millions of working people will suffer from Reeves’s first Budget, warns OBR

The Telegraph  

Millions of working people will suffer from Rachel Reeves’ Budget tax raid, the Government’s fiscal watchdog has warned. Workers will pay for 80pc of the Chancellor’s increase in employer National Insurance in the long term through lost wage increases and lower income, according to the Office for Budget Responsibility. Homeowners also face hundreds of pounds more in mortgage bills, with …

Reeves set to increase employers’ national insurance contributions
1 month, 4 weeks ago

Reeves set to increase employers’ national insurance contributions

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves is …

Public sector pay rises hand Reeves a £6.7bn headache ahead of Budget
2 months ago

Public sector pay rises hand Reeves a £6.7bn headache ahead of Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Extending income tax threshold freeze in Budget 'will drag another 1.5m pensioners into paying higher or top rate'
2 months ago

Extending income tax threshold freeze in Budget 'will drag another 1.5m pensioners into paying higher or top rate'

Daily Mail  

Another 1.5million pensioners could be dragged into paying higher rates of income tax if Rachel Reeves extends a freeze on thresholds, experts have warned. And they said extending the freeze for another two years could potentially drag 1million to 1.5million extra retirees into higher or additional rate tax brackets between 2023 and 2030. Jon Greer, head of retirement policy at …

Reeves tax raid risks £84bn black hole in public finances, say Truss-backed economists
2 months ago

Reeves tax raid risks £84bn black hole in public finances, say Truss-backed economists

The Telegraph  

Rachel Reeves has been warned that an aggressive Budget tax raid risks opening up a £84bn “black hole” in the public finances by crippling economic growth. Analysis by the Growth Commission, an economic advisory group set up by Liz Truss, the former prime minister, suggests mooted tax rises in their most extreme form could knock 8.8pc off GDP growth per …

If not on ‘working people’, where will the tax burden fall in Rachel Reeves’s Budget?
2 months ago

If not on ‘working people’, where will the tax burden fall in Rachel Reeves’s Budget?

The Independent  

As Rachel Reeves prepares to unveil her first Budget, a clear picture is emerging of how she intends to raise the money to ensure there is not another wave of austerity. Reeves’s hands are tied, to a certain extent, because of pledges not to raise the current rates of VAT, income tax, national insurance and corporation tax. Rachel Reeves will …

Reeves plans stealth taxes as Starmer prepares to splurge billions on NHS
2 months ago

Reeves plans stealth taxes as Starmer prepares to splurge billions on NHS

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Sir Keir Starmer …

Hundreds of business owners threaten to leave UK in event of Reeves tax raid
2 months ago

Hundreds of business owners threaten to leave UK in event of Reeves tax raid

The Telegraph  

Hundreds of business owners have threatened to leave Britain if Rachel Reeves presses ahead with an expected tax raid in her Budget later this month. Nearly half of 500 surveyed business owners said they would consider moving their companies overseas if the Chancellor makes big tax rises, according to wealth managers Evelyn Partners. Toby Tallon, tax partner at Evelyn Partners, …

The £40bn question: How will Rachel Reeves balance the books?
2 months, 1 week ago

The £40bn question: How will Rachel Reeves balance the books?

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Mervyn King, former Bank of England governor, has suggested increasing national …

Reeves eyes up to £40bn in tax rises and spending cuts in Budget
2 months, 1 week ago

Reeves eyes up to £40bn in tax rises and spending cuts in Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Institute for Fiscal Studies chief Paul Johnson said that …

Reeves accused of hypocrisy after admitting NI raid would hit workers’ pay
2 months, 1 week ago

Reeves accused of hypocrisy after admitting NI raid would hit workers’ pay

The Telegraph  

Rachel Reeves has been accused of hypocrisy after it emerged she previously admitted that increasing National Insurance for employers would hit workers’ pay. The Chancellor is thought to be planning to increase NI contributions for employers as part of a package of measures designed to raise £40 billion in this month’s Budget. Two years ago, Ms Reeves, when she was …

Reeves warns of ‘difficult decisions’ on tax ahead of Budget
2 months, 1 week ago

Reeves warns of ‘difficult decisions’ on tax ahead of Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Indicating that employer NICs were in her sights, she …

Rachel Reeves boosts big business as she caps corporation tax at 25% and woos investment in Britain
2 months, 1 week ago

Rachel Reeves boosts big business as she caps corporation tax at 25% and woos investment in Britain

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Reeves made her big pitch to business with a fourth …

The proof Reeves will be unable to squeeze the rich
2 months, 1 week ago

The proof Reeves will be unable to squeeze the rich

The Telegraph  

Rachel Reeves’s tax raids are already unravelling. The problem is that these shoulders already bear a significant load, and Treasury officials, who have become increasingly concerned that Labour’s raids will raise little money, are starting to realise that they have options. New figures show that high-earning Britons are already paying more tax on their income for every extra £1 they …

Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat
2 months, 1 week ago

Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat

Daily Mail  

Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today. Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today The grim assessment comes from the respected IFS think-tank as …

The five-week plan to dodge Labour's Budget grenade: JEFF PRESTRIDGE on what to do NOW
2 months, 4 weeks ago

The five-week plan to dodge Labour's Budget grenade: JEFF PRESTRIDGE on what to do NOW

Daily Mail  

The speeches of the Prime Minister and Chancellor of the Exchequer at the Labour Party conference in Liverpool this week were more along the lines of ‘Getting Better’ than ‘Here Comes the Sun’. Tax collector: Chancellor Rachel Reeves has her eyes on your savings and investments as she prepares to announce her first budget next month When Sir Keir talked …

No one loves bankers – but here’s why Rachel Reeves should
3 months, 1 week ago

No one loves bankers – but here’s why Rachel Reeves should

The Independent  

Can it only be three months since Rachel Reeves said: “There’s no need to have a tax on banks. Then, Sir Keir Starmer and Reeves were keen for the banks’ seal of approval, anxious to be held up as trusted guardians of the nation’s money. Labour also wished to push an economic growth strategy and again it wanted the banks’ …

Reeves tax crackdown will drive away talent, says private equity chief
3 months, 2 weeks ago

Reeves tax crackdown will drive away talent, says private equity chief

The Telegraph  

Rachel Reeves’s planned tax raid on wealth risks triggering an exodus of financiers from the City, the head of the UK’s largest private equity firm has warned. Rob Lucas, the chief executive of CVC Capital, which owns stakes in Six Nations rugby and the RAC, said higher taxes could prompt executives to ditch the capital and move to cities around …

Top earners and entrepreneurs already fleeing Britain over tax raids
3 months, 3 weeks ago

Top earners and entrepreneurs already fleeing Britain over tax raids

The Telegraph  

Wealthy individuals and entrepreneurs are already fleeing Britain as fears grow over a raft of tax rises in Rachel Reeves’s first Budget. It comes after Sir Keir Starmer warned last week that those with the “broadest shoulders” would carry the burden of fixing Britain’s ailing public finances. Ceri Vokes, a partner at law firm Withers Worldwide, who works with entrepreneurs …

Wealth Taxes Are the Obvious Revenue Target for Reeves
4 months, 1 week ago

Wealth Taxes Are the Obvious Revenue Target for Reeves

Bloomberg  

It’s a question of when, not if, the UK’s Labour government unfurls the tax increases needed to plug a yawning budget deficit. Chancellor of the Exchequer Rachel Reeves has ruled out higher income or sales taxes, which contribute three-fifths of the total tax take, so it looks inevitable that accumulated wealth will have to be targeted instead. There are areas …

Rachel Reeves confirms taxes will rise in her first budget in October
4 months, 3 weeks ago

Rachel Reeves confirms taxes will rise in her first budget in October

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. And, setting the scene for a brutal financial statement, she …

UK govt facing £22b financial 'black hole'
4 months, 3 weeks ago

UK govt facing £22b financial 'black hole'

China Daily  

Chancellor of the Exchequer Rachel Reeves speaks during a press conference in London, Britain July 29, 2024. A financial "black hole" has forced the United Kingdom's new Labour Party government to scrap several of the previous administration's projects. Chancellor of the Exchequer Rachel Reeves, the country's finance minister, announced the ditched initiatives on Monday, telling lawmakers the previous Conservative Party …

There may be trouble ahead, but the Reeves plan might just work
4 months, 3 weeks ago

There may be trouble ahead, but the Reeves plan might just work

The Independent  

History is written by the winners,” one Keir Starmer ally told me. “We have got to write the narrative for this government, not let others do it.” Rachel Reeves began that task today, in an important Commons statement in which she said the Treasury had found a £22bn black hole in this year’s Budget left by the outgoing Conservative government. …

Labour's tax trick: Rachel Reeves will unveil doomsday claim about £20bn hole in public finances TODAY as she slashes road projects and paves the way to hike the burden on Brits - but will still sign
4 months, 3 weeks ago

Labour's tax trick: Rachel Reeves will unveil doomsday claim about £20bn hole in public finances TODAY as she slashes road projects and paves the way to hike the burden on Brits - but will still sign

Daily Mail  

Rachel Reeves is unveiling doomsday claims about a £20billion hole in the public finances today as she paves the way for tax hikes. And despite the dire warnings Ms Reeves has been making clear she is giving the green light for an inflation-busting 5.5 per cent pay rise for public sector workers - estimated to cost £8billion. Ms Reeves pictured …

UK's new Treasury chief says previous government 'covered up' financial turmoil ahead of election
4 months, 3 weeks ago

UK's new Treasury chief says previous government 'covered up' financial turmoil ahead of election

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s new Treasury chief is alleging that the previous government covered …

Rachel Reeves set to unveil £20bn black hole in public finances
4 months, 3 weeks ago

Rachel Reeves set to unveil £20bn black hole in public finances

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves is …

Chancellor Rachel Reeves is expected to reveal £20billion hole in UK's public finances - intensifying fears that hefty Labour tax hikes are on the way
4 months, 4 weeks ago

Chancellor Rachel Reeves is expected to reveal £20billion hole in UK's public finances - intensifying fears that hefty Labour tax hikes are on the way

Daily Mail  

Rachel Reeves is set to reveal a staggering deficit in the public finances of up to £20billion, working up to a significant tax hike this autumn. Rachel Reeves is set to reveal a staggering deficit in the public finances of up to £20billion, working up to a significant tax hike this autumn The Chancellor is expected to implement tax increases …

Labour plans to pin its tax bombshell on the Tories… and it might just work
4 months, 4 weeks ago

Labour plans to pin its tax bombshell on the Tories… and it might just work

The Independent  

A parliamentary showdown between Keir Starmer and Labour’s band of left-wing MPs was inevitable – though it wasn’t expected quite so soon. Starmer didn’t pick this early fight – it wasn’t in his “first 100 days” script to hit the proverbial ground running – but his action sent a message to Labour MPs tempted to rebel on other issues, and …

Labour would have to raise taxes to fill immediate £2bn black hole, Tories claim
6 months ago

Labour would have to raise taxes to fill immediate £2bn black hole, Tories claim

The Telegraph  

Labour would face an immediate £2 billion “black hole” in their public spending plans which would require early tax rises, the Conservatives have claimed. The Conservatives have pointed to a statement from Sir Keir Starmer that there will be an “immediate injection” of cash into public services if Labour forms a government, along with comments from Ms Reeves that every …

Reeves signals closer UK-EU trade ties at start of economy-focused campaign week
6 months, 1 week ago

Reeves signals closer UK-EU trade ties at start of economy-focused campaign week

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. “I don’t think …

Rachel Reeves is accused of plotting a £20BILLION tax raid on pensions after denying Labour would increase VAT
6 months, 3 weeks ago

Rachel Reeves is accused of plotting a £20BILLION tax raid on pensions after denying Labour would increase VAT

Daily Mail  

Rachel Reeves was last night accused of plotting a £20billion tax raid on pensions after ruling out a VAT increase. Work and Pensions Secretary Mel Stride seized on a 2018 pamphlet written by the shadow chancellor in which she suggested tax relief on pension contributions paid by high earners 'could be restricted'. Rachel Reeves was last night accused of plotting …

What Labour isn’t telling you about tax
6 months, 3 weeks ago

What Labour isn’t telling you about tax

The Telegraph  

Known as “fiscal drag”, the long freeze is currently forecast to rake in an extra £41bn a year for the Treasury by 2028-29. The Treasury estimates that Labour’s current tax and spending plans would raise an extra £6.1bn a year but cost as much as £16.2bn, leaving a significant hole. Even in the less radical age of Starmer, Paul Dales …

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