8 h. ago Cutting income tax is the promise Anas Sarwar needs to make to distance himself from Keir Starmer

Daily Record Political Editor Paul Hutcheon says Anas Sarwar may need to bring forward his income tax plan is he wants to eat into the SNP's 17 point lead for Holyrood.

Events

8 d. ago Budget 2025 live: Rachel Reeves announces £26bn plan for income tax, pensions and ISA cuts after OBR leak

Chancellor unveils series of tax hikes to fill black hole in public finances in addition to ditching two-child benefit cap and changes to ISAs

Economics

1 week ago Scottish Election 2026: Anas Sarwar promises ‘big change’ if Labour wins Holyrood elections

Scottish Labour leader promised he would lead “a government that works as hard as the people it serves”.

Politics

2 w. 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

3 w. ago Rachel Reeves gives strongest sign yet she WILL break Labour's manifesto vows on tax at Budget

Chancellor Rachel Reeves suggested the only way she could keep the promises not to increase income tax, national insurance or VAT was to cut investment - something she has ruled out.

Economics

3 w. ago Shona Robison may 'revisit' tax plans as UK Budget could 'cut Scotland's funding by £1bn'

The Fraser of Allander Institute estimated a 2p income tax hike in the UK Budget could cut Scotland’s funding by £1billion.

Economics

3 w. ago Pensioners could pay £380 a year EXTRA in tax under Rachel Reeves’ Budget plot

MILLIONS of pensioners face paying an extra £380 a year in tax under Rachel Reeves' Budget plans. The Chancellor is expected to increase income tax by 2p in her Autumn Budget, while cutting National Insurance (NI) payments by 2p for earnings under £50,270. This would ease the burden on workers, as the income tax hike...

Economics

3 w. ago Almost 9million pensioners to be hit by Rachel Reeves's income tax raid as Chancellor 'tells Budget watchdog she will break Labour's manifesto pledge'

The Chancellor has paved the way for fresh levy hikes later this month after she used a Downing Street speech on Tuesday to warn Britons: 'Each of us must do our bit.'

Economics

3 w. ago Almost 9million pensioners to be hit by Rachel Reeves' income tax raid as Chancellor 'tells Budget watchdog she will break Labour's manifesto pledge'

The Chancellor has paved the way for fresh levy hikes later this month after she used a Downing Street speech on Tuesday to warn Britons: 'Each of us must do our bit.'

Economics

3 w. ago 2p or not 2p? Rachel Reeves 'tells Budget watchdog she plans to break Labour's manifesto' as Chancellor mulls 'putting 2p on income tax while cutting 2p from National Insurance'

The Chancellor is said to have told the Office for Budget Responsibility (OBR) that a rise in personal taxation is one of the 'major measures' she is planning to announce.

Economics