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Reeves weighing income tax rise to tackle deficit, The Guardian reports
Rachel Reeves faces pressure to raise income tax to fill a £30 billion shortfall amid economic challenges despite Labour's manifesto pledge against tax rises on working people.
- Rachel Reeves is considering breaking a manifesto pledge with an income tax rise to fill a £30bn gap, according to The Guardian.
- Raising income tax may be the only way to make sure she raises enough money never to have to come back for tax rises again, according to Whitehall sources.
- Adding 1p to the basic rate of income tax could generate more than £8bn for the Treasury, but would likely add to concerns about the cost of living at a time when bills are sky high, The Guardian reports.
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Chancellor Rachel Reeves ‘considers Budget income tax hike' - as minister gives response - The Mirror
Labour promised at last year's General Election the party would 'not increase taxes on working people' - including income tax, national insurance, and VAT - in government
·London, United Kingdom
Read Full ArticleIncome tax warning for all UK households as Rachel Reeves to 'break manifesto'
The Chancellor is reportedly in discussions over abandoning the promise not to raise taxes for "working people" as she looks to fill a black hole of up to 50billion in her statement next month
·Newcastle upon Tyne, United Kingdom
Read Full ArticleUK's Reeves weighing income tax rise to tackle deficit, The Guardian reports
British finance minister Rachel Reeves is considering raising income tax in next month's budget to help reduce a multibillion-pound deficit, The Guardian reported on Thursday, citing sources familiar with the matter.
·United Kingdom
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Total News Sources19
Leaning Left3Leaning Right5Center8Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 19%
C 50%
R 31%
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