Taxes rises Brits are most likely to see increase in Labour’s first Budget
manchestereveningnews.co.ukRachel Reeves is set to unveil Labour's comprehensive plans for the UK economy in her inaugural Autumn Budget as the new chancellor later this month.
Tasked with addressing a £22 billion deficit, Ms Reeves will face tough choices, promising "hard but fair" decisions, amidst whispers of potential tax hikes.
The Leeds MP is scheduled to present her financial strategy to the House of Commons on Wednesday, October 30. Some things have already been excluded including taxes for 'working people'.
What this essentially means is that national insurance and VAT is not expected to receive any increases in this Budget. There is currently a wide range of speculation that the Chancellor may implement significant reforms to Capital Gains Tax, and Inheritance Tax.
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