Reeves refuses to rule out income tax rise as pressure mounts before Budget

"I will "continue to support working people by keeping their taxes as low as possible""

""manifesto commitments stand""

"Treasury officials are said to be in "active discussions" about adding 1p to the basic rate or lifting higher-rate thresholds for top earners"

""the cost of living is still people's number-one concern""

Rachel Reeves declined to repeat a prior categorical pledge not to raise income tax, National Insurance or VAT, leaving open the possibility of an income-tax increase in next month’s Budget. Treasury officials are reportedly exploring adding 1p to the basic rate or adjusting higher-rate thresholds for top earners. The Office for Budget Responsibility downgraded productivity forecasts, creating a £22 billion hole in public finances and eliminating much of the previously pledged £10 billion headroom. Government borrowing rose to £20.2 billion in September, constraining fiscal options. Reeves emphasized support for working people alongside commitments to sound public finances.

Read at Business Matters