Rachel Reeves says those with broadest shoulders should pay fair share of tax

"But I do think those with the broadest shoulders should pay their fair share of tax and I think you can see that from my actions last year at the budget. She added: I want the UK to remain an attractive place, but we've got to get the balance right and I do think that if Britain is your home you should pay your taxes here."

"Pressed for details about how she could raise the additional revenue needed, the chancellor said: We're not going to be introducing a wealth tax. We already have a number of taxes in the UK that do tax wealth and do tax wealthy people, and some of those we increased in the budget last year. Asked to clarify who may be affected, she added: Wealth's not about your annual salary."

The chancellor plans a package of tax increases and spending cuts on 26 November to meet fiscal rules after deteriorating Office for Budget Responsibility forecasts. Wealthy taxpayers will face higher taxes, although a formal wealth tax will not be introduced. Existing wealth-related taxes were increased in last year's budget. The government seeks to balance revenue measures with maintaining the UK's attractiveness to talent, entrepreneurs and successful individuals, including doubling global talent visas. The approach emphasizes that people who make Britain their home should pay taxes there while aiming not to deter entrepreneurs from relocating to the UK.

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