Rachel Reeves plans to raise income tax' in Budget

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"She is said to be considering a 2p rise in income tax and a 2p cut in national insurance, which would cancel out the burden on workers and move it onto other groups, such as landlords and pensioners. The cut to national insurance could be limited to people earning below 50,270 per year, while earnings over the threshold would still be subject to a two per cent rate, the newspaper reports."

The Independent covers reproductive rights, climate change, and Big Tech and produces documentaries such as 'The A Word' about American women fighting for reproductive rights. The outlet emphasizes parsing facts from messaging, reporting from both sides, and keeping journalism accessible without paywalls funded by those who can afford it. Rachel Reeves has reportedly told the Office for Budget Responsibility she intends to increase income tax in the upcoming Budget, reportedly considering a 2p raise in income tax alongside a 2p national insurance cut that could shift burdens onto landlords and pensioners. The national insurance cut could be limited to people earning below 50,270 per year, with earnings above the threshold still subject to a two per cent rate. The OBR will produce an impact assessment for the Treasury ahead of the November 26 Budget, and campaigners opposed to the Rosebank oil field have urged investigation of a deal between the field's majority owner and Shell.

Read at www.independent.co.uk