29 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

29 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

34 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

34 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 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 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

38 h. ago Starmer and Reeves drop proposal to increase income tax rates in Budget

U-turn on measures to raise revenue to fill fiscal hole sparks sell-off in gilt market

Economics

39 h. ago Starmer and Reeves drop proposal to increase income tax rates in the Budget

U-turn on measures to raise revenue to fill fiscal hole sparks sell-off in gilt market

Economics

44 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

47 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

47 h. ago 'Stealth tax' alert: Reeves Budget to make record 10m pay Income Tax higher rate if she freezes thresholds

A further two-year freeze on Income Tax thresholds would drag 790,000 more people into paying the 40% higher rate, according to the IFS

Economics

49 h. ago Starmer and Reeves ditch Budget plan to increase income tax rates

Chancellor explores alternative ways to raise revenue to fill fiscal hole estimated at up to £30bn

Economics

49 h. ago Starmer and Reeves ditch plan to increase income tax rates in the Budget

Chancellor explores alternative ways to raise revenue to fill fiscal hole estimated at up to £30bn

Economics

7 d. ago More than 1mn paid highest rate of tax last year due to frozen thresholds

Fiscal drag accounts for two-thirds of those paying the additional rate of income tax

Politics

1 week ago How a Zohran Mamdani policy could transform New York and beyond by eliminating costly issue affecting millions

To fund his policies, Mamdani has proposed an increase of the state’s corporate tax rate and raising the city’s income tax by 2 percentage points on New Yorkers earning more than $1 million a year

Economics

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 Anas Sarwar challenges John Swinney to use £1 billion underspend as Holyrood braces for UK Budget

The rate of income tax paid by workers in Scotland is set by Holyrood but a hike elsewhere in the UK could still have a negative impact on public spending north of the Border.

Economics

1 week ago See how much Income Tax hike could cost YOU as Reeves refuses to rule out rises

You currently pay the basic 20% rate of Income Tax when you earn above £12,570, then the higher rate of 40% income tax kicks in on earnings above £50,270

Economics

1 week ago Rachel Reeves Autumn Budget could hit pensioners with £1k bills

Pensioners could be among the hardest hit by rumoured changes to income tax and National Insurance rates

Economics

2 w. ago See how much Income Tax hike could cost YOU as Starmer refuses to rule out rises

You currently pay the basic 20% rate of Income Tax when you earn above £12,570, then the higher rate of 40% income tax kicks in on earnings above £50,270

Economics