9 h. ago 'Politics of envy': Fury as Labour opens the door to an inheritance tax raid on Middle England as ministers fail to deny push to end tax

Dame Diana Johnson, the policing minister, failed to rule out changes to the so-called 'death tax' this autumn amid growing concerns about the state of the public finances.

Politics

25 h. ago Treasury targeting inheritance tax reforms to help plug UK deficit

Exclusive: Chancellor also looking at tweaks to capital gains tax to try to bridge £40bn-plus spending gap before budgetThe Treasury is looking at ways to raise more money from inheritance tax amid growing pressure on the country’s finances ahead of the autumn budget, sources have told the Guardian.Officials have been tasked with examining whether tightening rules on the gifting of money and assets could be one way of addressing a gap between revenue and spending that is estimated to reach more than £40bn. Continue reading...

Events

3 d. ago Embattled Rachel Reeves urges public to be patient with Labour on rescuing economy

Labour chancellor has been warned of a £50bn black hole in the government’s finances and that inflation will see consumers hit with higher prices this winter

Events

5 d. ago 'Surprisingly poor' John Cleese, 85, is set to buy a house in Bath with his fourth wife

The Monty Python star has lived in Monaco in the past, and more recently in Nevis in the Caribbean, where there's no income tax. Pictured: File photo of the Royal Crescent in Bath

Politics

5 d. ago Voices: ‘The fairest way’ or a ‘political disaster’? Readers split on whether Reeves should raise income tax

Our community is split over whether raising income tax is the fairest way to plug Britain’s £50bn budget gap or a risky move that could harm growth and Labour’s political standing

Politics

5 d. ago Only Fools and Horses voted UK’s favourite sitcom – as Farage fans flock to Del Boy

‘No income tax, no VAT’– Del Boy’s manifesto proves a hit with Reform voters in new sitcom poll

Politics

5 d. ago Dire economic crosswinds mean Rachel Reeves must raise income tax

Editorial: Despite interest rates being brought to their lowest level in more than two years, a combination of meagre economic growth, high government spending and U-turns over proposed welfare cuts has trapped Labour in a fiscal straitjacket. But the chancellor must remember that good policy is good politics

Economics

6 d. ago Scottish Secretary Ian Murray gives wealth tax verdict as deputy prime minister Angela Rayner pushes for move

The Scottish Secretary said a tax on the highest income earners would lead to ‘flight’ of wealthier people abroad.

Politics

6 d. ago Reeves leaves door open to gambling tax rise in autumn budget

The Chancellor said she was ‘deeply concerned’ about child poverty and the Government is taking evidence in a review of gambling taxes.

Economics

7 d. ago Starmer opens door to income tax rise in autumn Budget as pressure to fill £50bn hole mounts

Labour prime minister pledged that plans to be set out in the autumn would make ‘sure people feel better off’

Economics

7 d. ago Keir Starmer REFUSES to rule out tax hikes in the Budget after economists warn Labour is facing a huge £50bn black hole in public finances

The Prime Minister said he didn't recognise 'some of the figures that are being put out' amid suggestions that Rachel Reeves is on track to miss one of her fiscal rules.

Economics

7 d. ago Starmer refuses to rule out tax rises in autumn as he faces growing pressure to fill £50bn budget black hole

Labour prime pledged that plans to be set out in the autumn would make ‘sure people feel better off’

Economics

7 d. ago Voices: Rachel Reeves must learn a hard lesson from Labour history – wealth taxes simply don’t work

Taxing unearned income is no way for the chancellor to plug her £41bn spending black hole – the better-off are best placed to find a way around paying it, says Chris Blackhurst

Economics

7 d. ago Keir Starmer pushes back at economists' claims Labour is facing a £50bn black hole

The Prime Minister said he didn't recognise 'some of the figures that are being put out' amid suggestions that Rachel Reeves is on track to miss one of her fiscal rules.

Economics

7 d. ago Voices: ‘The whole tax system needs radical reform’: Readers weigh in on Reeves’ fiscal trilemma

Our community is split on how Rachel Reeves should resolve her fiscal trilemma, with readers divided between raising taxes, cutting spending, relaxing borrowing rules or boosting growth through closer EU ties

Politics

7 d. ago Rachel Reeves faces ‘impossible trilemma’ and must raise taxes or cut spending to plug £50bn black hole

Leading economists say the chancellor may have to raise taxes, cut public spending or tear up her fiscal rules

Economics

7 d. ago Something has to give, chancellor – and that something is income tax

Editorial: Rachel Reeves must use her autumn Budget to set aside manifesto commitments and put the public finances on a more sustainable footing. The most reliable and economically sound way is the most straightforward – and the most politically difficult

Politics

7 d. ago Rachel Reeves needs to put up taxes to cover £40bn deficit, thinktank says

NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation, according to a leading thinktank.In a blow to Labour’s hopes of balancing the books without breaking manifesto commitments ruling out personal tax rises, the National Institute of Economic and Social Research (NIESR) said a number of factors would knock off course the chancellor’s plans to stay within Whitehall spending limits. Continue reading...

Economics

7 d. ago Reeves warned of ‘impossible trilemma’ on tax, spending and fiscal rules

Think-tank Niesr urges chancellor to increase income tax rates at her next Budget

Events

8 d. ago HMRC rule change means certain Brits could be pursued for £1,350

The new rules will mean that the threshold for filing a Self Assessment tax return for trading income will rise from £1,000 to £3,000; however, the trading allowance will remain unchanged

Economics