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Starmer 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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55 Articles
Evening StandardReposted by 
The Independent (US)
The Independent (US)Reeves prepares for tax rises in Budget as global and domestic pressures bite
The Chancellor suggested ‘we will all have to contribute’ to building a new future for Britain.
·London, United Kingdom
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Coverage Details
Total News Sources55
Leaning Left12Leaning Right5Center17Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 35%
C 50%
15%
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