The article discusses a memo from Deputy Prime Minister Angela Rayner's department urging Chancellor Rachel Reeves to increase taxes by £3 to £4 billion annually ahead of this year's Spring Statement. However, Reeves resisted these proposals and instead announced significant welfare cuts. The discourse within the Labour party continues, especially ahead of departmental spending plans, with some members advocating for a wealth tax. The memo included measures like increasing corporation tax and reinstating a lifetime pensions allowance, highlighting ongoing tensions and contrasting views within the party.
The memo revealed internal discussions within the Labour party pushing for significant tax increases, highlighting the tension between tax policy and spending cuts in the upcoming government plans.
The Chancellor Rachel Reeves faces pressure to increase taxes despite a firm stance against it, with some Labour members advocating for a wealth tax to mitigate departmental cuts.
Collection
[
|
...
]