Labour, income tax
Budget 2024: What taxes will Labour chancellor Rachel Reeves hike in announcement?
Rachel Reeves has warned that tax rises and more public spending cuts are in the pipeline for the October 30 Budget.The Chancellor is finalising her Budget, with several drafts having been sent to the financial watchdog,
How Labour could push through ‘stealth’ income tax rise at the Budget
Experts predict the move could raise £7bn a year for the Exchequer – but has been criticised by some as an underhand way to raise tax. Some critics have claimed that doing so would break a central Labour manifesto pledge to “not increase taxes on working people.”
Labour could freeze income tax thresholds in budget - move they branded 'stealth tax' under Sunak
As much as £7bn a year could reportedly be raised through "fiscal drag", where people are pulled into higher tax rates as their pay and salaries rise over time.
Rachel Reeves expected to prolong personal tax threshold freeze beyond 2028
UK chancellor Rachel Reeves is expected to prolong a freeze on personal tax thresholds beyond 2028 in a “stealth” tax move that could raise £7bn a year and help plug a £40bn fiscal shortfall. Government officials said Reeves was looking to lengthen the freeze — announced in 2021 under the Conservatives but due to expire in 2028 — in what will be seen as a covert rise in income tax.
UK's Reeves set to prolong freeze on income tax thresholds, FT reports
LONDON (Reuters) -British finance minister Rachel Reeves is expected to prolong a freeze on income tax thresholds beyond 2028 in the government's upcoming budget, in a move that could raise 7 billion pounds ($9.
Budget 2024 latest: Labour insists income tax threshold freeze would not break manifesto pledge
What to expect from Rachel Reeves's Budget - Britons urged to brace themselves for 'hasty tax grab'
As Budget day looms, there has been much speculation on the potential tax rises Chancellor Rachel Reeves could go ahead with to fill the £22billion black hole in public's finances. GB News has provided a round-up of what Britons should be on the look out for,
Rachel Reeves ‘to extend freeze on income tax thresholds’
Rachel Reeves is preparing to extend the freeze on income tax thresholds in a move that will raise £7 billion a year, according to reports. The stealth tax raid, announced in 2021 by Rishi Sunak, the then chancellor,
October Budget predictions: When is it and what taxes will Labour raise?
With just a few weeks to go until the Government’s first Budget, the public is waiting to see how it follows through on its ...
Dozen Labour MPs join call for 'extreme wealth' tax
The MPs want Rachel Reeves to bring in a 2% tax on assets over £10m, which they claim could raise £24bn per year.
Labour blasted over farming Brexit betrayal ahead of looming budget
George Freeman MP said: "On the cusp of cutting the nature-friendly farming budget by £100 million, Labour’s promise to ...
Labour’s Budget Should Promote Growth Above All Else
Starmer’s most memorable pre-election mantra was “growth, growth, growth.” But does economic output take precedence over ...
Investment Week8h
Partner Insight: Labour's first budget - Potential Truss 2.0 or benign for markets?
With the new Labour Chancellor Rachel Reeves's first post-election budget fast approaching, there has been some speculation ...
Labour borrowing soars to £16.6bn as Rachel Reeves to unleash £22bn Budget hammering
Labour's public sector pay rises pushed government borrowing up by £2.1billion year-on-year, official figures show.
Britain Needs Serious Investment, Not Budget Tinkering
Labour’s credibility will depend less on finding “fiscal headroom” than on setting out a serious investment strategy.
When will the UK budget be announced and what could it include?
Rachel Reeves will deliver Labour's first budget in 14 years on October 30, 2024, facing tough decisions to address a £40bn ...
Labour risks breaking manifesto pledge by Budget cut to farming fund
The Government risks breaching its manifesto promises if it cuts a flagship farming fund at the Budget, critics have claimed.