What's behind Rachel Reeves's 'hokey cokey' on income tax rises?

Business

After weeks of wondering will she, won't she, and recent heavy hints that she would indeed raise income taxes in the Budget, Chancellor Rachel Reeves has now decided against the manifesto-breaching move. Amid the fog of Budget speculation, here is what we do know. That plan, to raise income tax rates by 2p but compensate workers with a 2p National Insurance cut was sent to the OBR as an option earlier this month to be costed, to help fill what was then a £30bn gap in the public finances, mainly

Reeves’s shock U-turn on income tax stuns ministers, MPs and markets http://www.independent.co.uk - 14.11.2025 19:46

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Reeves’s shock U-turn on income tax stuns ministers, MPs and markets http://www.independent.co.uk - 14.11.2025 19:46