Why income tax will increase anyway despite Reeves pledge
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Why income tax will increase anyway despite Reeves pledge
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"Amid widespread predictions of tax hikes to come at the autumn budget, Labour has said it remains committed to its pledge not to raise taxes on working people. This means no increases to the headline rates of VAT, national insurance, or income tax. Rachel Reeves has, however, warned of harder choices to come ahead of the crunch fiscal event at Labour's party's conference in Liverpool. This has led economists to speculate that changes could be made to tax on property, ISAs, or even pensions."
The Independent covers topics from reproductive rights to climate change and Big Tech, funds reporting through donations, and avoids paywalls to keep journalism accessible. Donations support on-the-ground reporters and investigative projects like documentaries highlighting American women fighting for reproductive rights. Labour maintains a pledge not to raise headline rates of VAT, national insurance, or income tax, while Chancellor Rachel Reeves warns of difficult choices ahead. Economists suggest tax changes could target property, ISAs, or pensions as government borrowing reached a five-year high in August, and analysts estimate a potential £40bn gap that may prompt stealth tax measures.
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