Reeves calls wealth tax ‘unproven’ in challenge to deputy leader hopeful

Reeves calls wealth tax ‘unproven’ in challenge to deputy leader hopeful

Chancellor says levy on total assets would be a ‘mistake’ while signalling further raids

Rachel Reeves urged to ditch Labour pledge not to raise taxes: UK politics live

The CBI chief said that ‘geopolitics and global markets have shifted’ and Labour should rethink its policy not to raise tax

Reeves Rejects Wealth Tax, Risks £50B Chaos in Labour's Budget Gamble

Chancellor Rachel Reeves has rejected a wealth tax to plug a £50 billion ($76.7 billion) fiscal deficit, defying Labour MPs pushing for levies on the ultra-rich. Her decision, announced on 9 September 2025, risks economic instability as public finances teeter.With mounting pressure, Reeves faces a high-stakes Budget to stabilise Britain's economy.On 9 September 2025, Reeves dismissed a wealth tax as 'unproven', arguing it may not deliver expecte…

CBI boss calls for Rachel Reeves to break Labour's tax pledge

The boss of the Confederation of British Industry (CBI) has suggested the chancellor should tear up Labour’s manifesto pledge not to raise taxes on working people, as businesses brace themselves ahead of the Autumn Budget. Rachel Reeves is widely expected to introduce a fresh package of tax hikes in her 26 November Budget, in order to offset deteriorating economic forecasts. However, the Chancellor’s hands are tied by Labour’s promise not to inc…

Fresh call for UK tax rises, major US job downgrade sees dollar firm up

Following Monday’s dips, the dollar firmed up even as significant US job losses were revealed. It gained 0.25% on the pound and 0.5% on the euro. The euro’s decline seems to be driven by the resignation of another French Prime Minister and the news that France’s debt interest rates had surpassed Italy’s. More organisations are demanding Chancellor Rachel Reeves to adjust or even abandon her fiscal rules, with the head of the Confederation of Bri…