#fiscal-shortfall

#fiscal-shortfall

The chancellor is in active discussions over breaking one of her party's main manifesto pledges as she looks for ways to clear an estimated shortfall of more than 30bn, according to three sources close to the budget process. Some advisers in the Treasury and No 10 believe that raising income tax might be the only way to make sure she raises enough money never to have to come back for tax rises again in this parliament.

If we are to succeed in our mission to transform Britain and fight back against Reform, we must be bold and embrace new ideas that put more money back into the pockets of working people. One place we can start is by looking at ways we can abolish the outdated, deeply regressive, and increasingly indefensible council tax system. Created in the early 1990s and still based on property valuations from 1991, it bears little resemblance to the realities of today's housing market.