UK's Starmer, Reeves ditch budget plan to increase income tax rates, FT reports

What’s behind Labour’s income tax U-turn?

Insiders fear that the government has opted for “all pain, no gain” by dropping a plan to break its manifesto

Government borrowing costs rise in wake of income tax U-turn speculation

Reports that the Chancellor has scrapped her plans to raise income tax at the Budget has sparked a sell-off in UK Government bonds. Government borrowing costs have risen in the wake of an apparent income tax U-turn by the Chancellor. Speculation that Rachel Reeves has scrapped her plans to raise income tax at the Budget has sparked a sell-off in UK Government bonds, also known as gilts: the means by which the Government borrows money from privat…

HMRM 'could raid 1m people's pocket' in 'punishment' as warning issued

The Labour Party Chancellor is looking to fill a 30billion financial black hole and is considering extending the freeze by two years to 2030, amid fears fiscal drag could get even worse

Starmer and Reeves 'rip up' plans to raise income tax

Keir Starmer and Rachel Reeves have reportedly ditched plans to raise income tax rates in a major U-turn less than two weeks from the budget.

Income Tax will not go up in the budget as Rachel Reeves keeps manifesto pledge

Chancellor Rachel Reeves will keep Labour’s manifesto pledge and will not raise income tax at this month’s Budget, suggest new reports.

Starmer and Reeves make bombshell tax U-turn - what does it mean for the budget?

There was speculation that Rachel Reeves autumn 2025 budget was going to see Labour break a manifesto pledge to not raise taxes on 'working people.