11 h. ago New personal tax thresholds £12,570 update as 'two year' plan emerges

Rachel Reeves is expected to announce a number of tax rises in the budget on November 26, after ditching plans to hike income tax

Economics

20 h. ago Rachel Reeves is right not to raise income tax and must deliver Budget for us all

"Reeves is right not to raise income tax. Now she must deliver a Budget for us all."

Economics

24 h. ago Reeves to freeze thresholds after ditching planned income tax hike – reports

The Chancellor is understood to have U-turned after improved forecasting from the Office for Budget Responsibility.

Politics

26 h. ago Reeves' climbdown on income tax proves Labour is now the puppet of Left

Rachel Reeves last night faced accusations that she ripped up her Budget to head off another revolt from Labour MPs who feared breaking the party's manifesto promise on tax would be electoral suicide.

Politics

27 h. ago The Chancellor's lost control: Rachel Reeves accused of presiding over most shambolic Budget in history after humiliating U

The Chancellor spent weeks laying the ground for a manifesto-breaking hike in taxes for millions of workers in this month's Budget , before sparking chaos in the City by performing a shock U-turn.

Politics

30 h. ago UK borrowing costs jump as investors lose faith in Rachel Reeves’ Budget

Gilts sell off after government ditches plan to increase income tax rates

Economics

30 h. ago UK borrowing costs jump as investors lose faith in Reeves’ Budget

Gilts sell off after government ditches plan to increase income tax rates

Economics

30 h. ago ‘Their credibility has been shot to pieces’: Labour MPs turn on Starmer and Reeves

Income tax U-turn adds to mood of despair among party’s backbenchers

Politics

32 h. ago Londoners who own expensive homes face being hammered in Budget after Reeves U

A new ‘mansion tax’ or higher council tax bands for costly properties are measures the Chancellor could announce

Politics

33 h. ago Anas Sarwar brands SNP 'economically illiterate' in clash over income tax rises

EXCLUSIVE: The Scottish Labour leader accused the SNP of "effectively arguing for a cut to its own budget".

Economics

34 h. ago UK Budget process in ‘complete chaos’, says Scotland’s Finance Secretary

Reports suggest Chancellor Rachel Reeves has scrapped plans to hike income tax.

Economics

35 h. ago Reeves' 'sums of anarchy' in 'most chaotic Budget ever': How you could still pay £750 more on £50,000 salary even without an income tax hike

The Treasury has made clear that income tax rates will not be increased on November 26, despite weeks of heavy hints about the first rise for 50 years.

Economics

35 h. ago Treasury won’t cut threshold for higher rate income tax, say sources – UK politics live

Fallout continues over budget income tax U-turn, with Treasury saying expected fiscal gap has dropped to £20bnThis is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates1. Does it signal less willingness to do politically difficult thingsBritain’s long-term borrowing costs were sent soaring as reports suggested the latest U-turn would leave Rachel Reeves scrambling to fill a gaping black hole in the nation’s finances just two weeks before the 26 November budget.Yields on 30-year UK government bonds, also known as gilts, jumped as much as 14 basis points in early trading, and the yield on 10-year gilts also shot up 12 basis points – rising the most since July. Continue reading...

Politics

35 h. ago Personal tax threshold change update as expert issues £843 alert to all workers

The Treasury has appeared to rule out an income tax rise in the 26 November Budget, but extending the current freeze alone would add an extra £843 tax bill to middle earners over the next four years

Economics

36 h. ago Streeting says striking doctors ‘extremely irresponsible’ in angry phone

Health secretary unhappy as resident doctors in England have started a five-day strike todayThis is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates1. Does it signal less willingness to do politically difficult thingsBritain’s long-term borrowing costs were sent soaring as reports suggested the latest U-turn would leave Rachel Reeves scrambling to fill a gaping black hole in the nation’s finances just two weeks before the 26 November budget.Yields on 30-year UK government bonds, also known as gilts, jumped as much as 14 basis points in early trading, and the yield on 10-year gilts also shot up 12 basis points – rising the most since July. Continue reading...

Events

36 h. ago Chancellor abandons planned income tax hike because of improved forecasts

The PA news agency understands the strength of tax receipts has improved the numbers from the OBR, allowing for the U-turn.

Politics

37 h. ago Planned income tax rise now set to be scrapped by Rachel Reeves

Her initial plan was expected to see income tax rates increased by 2p but the plans have now reportedly been the subject of a U-turn

Politics

37 h. ago Anarchy in government as PM's 'nemesis' Wes Streeting celebrates Reeves' humiliating income tax U

Health Secretary Wes Streeting - seemingly emboldened by a botched Downing Street 'hit job' on his leadership ambitions this week - has publicly declared that he had not supported the move.

Politics

38 h. ago Rachel Reeves ditches plans to hike income tax as UK borrowing costs jump

Income tax levels in Scotland are set by Holyrood but spending decisions set by Reeves have a major impact on how much funding is available to the SNP Government.

Economics

38 h. ago Reeves dumps plan to raise income tax in screeching Budget U

Chancellor abandons plans to raise income tax over fears they could spark a huge backlash among voters and backbench Labour MPs

Economics