US EditionStarmer and Reeves hint at tax rises to come ahead of unusual pre-budget speech today
Chancellor Rachel Reeves reviews over 100 tax and spending options to address a £20 billion shortfall and meet fiscal rules while focusing on fairness and reducing NHS waiting lists.
- On November 26, Chancellor Rachel Reeves will deliver a Budget widely expected to raise taxes after a Downing Street speech prioritizing fairness, cutting NHS waiting lists, reducing national debt, and easing the cost of living.
- With fiscal buffers squeezed, the Resolution Foundation notes the OBR's downgrade could add 22 billion, requiring Reeves to find 10 billion to restore headroom.
- Reeves is reportedly considering a £4bn cut to pension tax breaks that could cost workers about £210 annually, alongside reviewing a 2p NI cut to raise £6 billion overall.
- Opponents warned that Reeves should be sacked if she `breaks her promises yet again`, as No 10 refused to re-commit to Labour's manifesto pledge.
- Longer term, advisers urged Reeves to double the level of headroom to £20 billion, while a leading think tank warned tax rises are `inevitable` but can reduce child poverty and cost-of-living pressures.
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77 Articles
'As we expected, taxes are going to go up!' Nigel Farage issues stark warning as he rips into Labour ahead of Budget
Nigel Farage has slammed Labour live on GB News after Rachel Reeves' latest speech this morning, preparing the ground for her upcoming Budget. The GB News star hit out at the Chancellor for "whacking up taxes" last year after Labour had told voters during the General Election campaign that they would not increase income tax, VAT and National Insurance.Speaking on Farage, the presenter said: "As we expected and as has been leaked already, that ta…
Tax hikes on the way? Reeves won’t rule it out in pre-budget speech
The UK budget isn’t until the end of the month but on Tuesday morning, unusually, Chancellor Rachel Reeves warned in a speech that what she called “tough but fair” “necessary choices” were ahead. Reeves blamed tariff wars triggered by Donald Trump, poor economic productivity and said she needed to protect public services, and couldn’t responsibly borrow any more.
UK households in these two council tax bands could face '100 percent rise' in April
The Chancellor is said to be looking at proposals to apply a 100 per cent increase to the two highest council tax bands, which would predominantly hit households in London and the South East
SNP ministers may be forced to slash public spending or hike taxes due to UK Budget 'hard choices'
The Fraser of Allander Institute estimated a 2p rise in UK income tax could cut Holyrood’s budget by £1 billion due to the fiscal arrangements between Holyrood and Westminster.
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