Economics, Labour, Business, Autumn budget 2024, UK news, Rachel Reeves, Politics Business | The Guardian
Ruling out of rises to four main taxes could lead chancellor to make ‘economically damaging’ decisions, says thinktankRachel Reeves has “one hand tied behind her back” as she considers how to balance the books next month in her first budget, a leading economic thinktank has said, after she ruled out increases to the four main taxes that account for 75% of all revenues.The Institute for Fiscal Studies (IFS) said Labour had promised not to raise income tax, national insurance, VAT or corporation tax before the budget, heightening speculation that Reeves will seek to increase revenues from rises in capital gains tax, inheritance tax and stamp duty on property sales. Continue reading…
Ruling out of rises to four main taxes could lead chancellor to make ‘economically damaging’ decisions, says thinktank
Rachel Reeves has “one hand tied behind her back” as she considers how to balance the books next month in her first budget, a leading economic thinktank has said, after she ruled out increases to the four main taxes that account for 75% of all revenues.
The Institute for Fiscal Studies (IFS) said Labour had promised not to raise income tax, national insurance, VAT or corporation tax before the budget, heightening speculation that Reeves will seek to increase revenues from rises in capital gains tax, inheritance tax and stamp duty on property sales.
