Reeves' income tax U-turn is a distraction from Labour’s implosion - but Budget will STILL be brutal
Rachel Reeves has abandoned plans to raise income tax at the Budget fearing a major backlash, it has been reported. The Chancellor was expected to hike the personal tax due to anger among Labour MPs – but it sparked money market chaos this morning. Plans have been abandoned amid fears it could alienate voters especially with Labour’s dismal performance in the polls, as reported by the Financial Times. The Chancellor said earlier this week that major infrastructure projects would have to be abandoned if she didn’t break the manifesto. The Treasury decision comes just over a week after Ms Reeves held an unusual early-morning Downing Street press conference telling the public everyone “must do our bit”. But it is thought tax thresholds will be frozen for a further two years that will raise more than £8 billion – known as “fiscal drag”. Continue reading https://ift.tt/zmvKJnc The Sun brings you breaking news and in-depth analysis on the stories that matter most. From the ongoing war in Ukraine to conflicts in the Middle East and US and UK politics, we post updates as they happen. Expect the latest on major global events, pressing political debates, celebrity updates and exclusive royal family content, along with in-depth investigations and expert commentary. Get comprehensive coverage of Donald Trump's Presidency, Vladimir Putin's actions, and the unfolding drama of the British Royal Family. Subscribe now for daily updates and exclusive content from The Sun. https://www.youtube.com/c/thesun?sub_confirmation=1 👑 For the latest Royal news, subscribe to The Sun's Royal Exclusive YouTube Channel: https://www.youtube.com/@RoyalExclusiveTheSun Read The Sun: https://bit.ly/3Tay1OY Like The Sun on Facebook: https://ift.tt/DCKVInM Follow The Sun on TikTok: https://ift.tt/9dScpZe Subscribe to The Sun on Snapchat: https://ift.tt/KdpcLlk #rachelreeves #budget2025 #incometax
via YouTube https://www.youtube.com/watch?v=Xkzpw6O4N9E
Rachel Reeves has abandoned plans to raise income tax at the Budget fearing a major backlash, it has been reported. The Chancellor was expected to hike the personal tax due to anger among Labour MPs – but it sparked money market chaos this morning. Plans have been abandoned amid fears it could alienate voters especially with Labour’s dismal performance in the polls, as reported by the Financial Times. The Chancellor said earlier this week that major infrastructure projects would have to be abandoned if she didn’t break the manifesto. The Treasury decision comes just over a week after Ms Reeves held an unusual early-morning Downing Street press conference telling the public everyone “must do our bit”. But it is thought tax thresholds will be frozen for a further two years that will raise more than £8 billion – known as “fiscal drag”. Continue reading https://ift.tt/zmvKJnc The Sun brings you breaking news and in-depth analysis on the stories that matter most. From the ongoing war in Ukraine to conflicts in the Middle East and US and UK politics, we post updates as they happen. Expect the latest on major global events, pressing political debates, celebrity updates and exclusive royal family content, along with in-depth investigations and expert commentary. Get comprehensive coverage of Donald Trump's Presidency, Vladimir Putin's actions, and the unfolding drama of the British Royal Family. Subscribe now for daily updates and exclusive content from The Sun. https://www.youtube.com/c/thesun?sub_confirmation=1 👑 For the latest Royal news, subscribe to The Sun's Royal Exclusive YouTube Channel: https://www.youtube.com/@RoyalExclusiveTheSun Read The Sun: https://bit.ly/3Tay1OY Like The Sun on Facebook: https://ift.tt/DCKVInM Follow The Sun on TikTok: https://ift.tt/9dScpZe Subscribe to The Sun on Snapchat: https://ift.tt/KdpcLlk #rachelreeves #budget2025 #incometax
via YouTube https://www.youtube.com/watch?v=Xkzpw6O4N9E