Rachel Reeves is reportedly set to freeze thresholds for an additional two years after scrapping her plans to increase income tax in the budget. She may also introduce a new levy on high-value properties, with these measures expected to be announced on 26 November. The Chancellor had been anticipated to raise income tax due to a significant gap in her spending plans, suggesting as recently as Monday that the alternative would be "deep cuts" to public investment. However, she has abandoned this