52 h. ago Chancellor Rachel Reeves 'ditches plan to increase income tax' in upcoming Budget, reports say

Chancellor Rachel Reeves makes a U-Turn on decision to increase income tax to fill 'fiscal black hole' spending gap as plan breaks Labour's manifesto pledge

Economics

55 h. ago Rachel Reeves to abandon plans to raise income tax rates in budget

Labour had laid the ground to break a manifesto pledge on taxes for working people but has now made a U-turnRachel Reeves is set to abandon a plan to raise income tax in her budget with the chancellor reportedly “ripping up” the main measures in the wake of turmoil in the party.A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the prime minister, Keir Starmer, and the chancellor. Continue reading...

Economics

5 d. ago Consumers cut spending waiting for punishing Budget measures to hit them in pocket

FOUR in ten Brits are adjusting their finances in anticipation of the Budget, new polling shows. Findings show around a third of people in this group are making cutbacks to reduce spending and another third are building up a savings cushion. It comes as Rachel Reeves has indicated that she will break her manifesto pledge...

Economics

5 d. ago Labour's flagship manifesto pledge on tax to be ripped up, Reeves makes clear ahead of Budget

The Chancellor said sticking to Labour’s manifesto commitments would mean ‘deep cuts’ to capital spending, something she indicated she will not do

Economics

5 d. 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

5 d. ago Mutinous Labour MPs warn Rachel Reeves of electoral meltdown if she breaks manifesto pledge with 2p tax hike

Rachel Reeves has been dropping heavy hints that income tax could go up in the package on November 26 - despite the move being explicitly ruled out in the manifesto.

Events

8 d. 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

8 d. 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

8 d. 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

9 d. ago Labour’s new deputy leader warns Rachel Reeves not to break manifesto pledge and raise taxes

Keir Starmer’s new deputy, who replaced Angela Rayner, also demanded urgent action on the controversial two child benefit cap in the Budget

Events

9 d. ago Labour must stick to manifesto pledge not to raise key taxes, Lucy Powell says

The new deputy leader’s intervention could cause a headache for Chancellor Rachel Reeves, who has rolled the pitch for higher taxes at her Budget.

Politics

9 d. ago Labour civil war as new deputy leader warns manifesto vow not to hike income tax MUST be kept

Rachel Reeves and Keir Starmer have been dropping heavy hints that the pledge not to increase income tax, national insurance or VAT might be jettisoned at the Budget .

Events

9 d. ago Rachel Reeves is poised to break ANOTHER promise as she 'plots £300

Chancellor Rachel Reeves could unveil a 3p per mile levy on EVs, on top of other road taxes, as she desperately tries to fill a huge black hole in the public finances .

Economics

1 week ago Britain's doom loop has begun, says City guru ALEX BRUMMER. The signs are everywhere

Rachel Reeves's bizarre breakfast-time address in Downing Street on Tuesday surprised and bemused financial analysts in equal measure.

Politics

1 week ago Labour MPs turn on Rachel Reeves as Chancellor hints at breaking manifesto pledge not to raise income tax

The Chancellor hinted this week that she is considering a manifesto-busting rise in income tax as she grapples with a black hole in the public finances estimated at up to £30 billion.

Politics

1 week ago George Osborne issues stark warning to Reeves over tax hikes

The former chancellor described the government as ‘constrained by its promise’ after Labour’s general election manifesto pledged to not increase VAT, national insurance or income tax

Events

1 week ago Chancellor under rising pressure amid warning UK finance blackhole must be plugged ‘with 2p income tax hike’

Rachel Reeves has given strong indications she will break Labour’s manifesto promise not to raise taxes on “working people” at her Budget on November 26

Events

1 week ago Rachel Reeves was a wan prophet of perdition, honking like a faulty cyborg: QUENTIN LETTS

Few of us are at our best before breakfast but Rachel Reeves' early-morning speech was a horror show.

Politics

1 week ago I won't quit even if I break my promise not to raise tax, Rachel Reeves says

The Chancellor hinted she is considering the first rise in the basic rate of income tax for half a century, saying 'we will all have to contribute' at the November 26 Budget.

Politics

1 week ago Brexit, Trump, Covid, the Tories: All the things Rachel Reeves blamed for breaking Labour's promise not to put up your taxes... and the one person she didn't!

The Chancellor refused to recommit to Labour 's manifesto promise not to increase income tax, National Insurance or VAT.

Politics