Rachel Reeves set to ditch plan to raise income tax' in Budget

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"Rachel Reeves has abandoned plans to break Labour's manifesto pledge and raise income tax at this month's Budget, it has been reported. The chancellor had been expected to hike income tax in the face of a yawning gap in her spending plans, hinting as recently as Monday that the alternative would be deep cuts to public investment. But the Financial Times has reported that she has now abandoned those plans over fears they could anger both voters and backbench Labour MPs."

The Independent covers a wide range of issues including reproductive rights, climate change and Big Tech, producing investigations and documentaries such as 'The A Word' and probes into Elon Musk's pro-Trump PAC. The outlet operates without paywalls and seeks donations to fund reporters who speak to both sides across the political spectrum. Chancellor Rachel Reeves abandoned plans to raise income tax at the forthcoming Budget amid concerns the move would anger voters and backbench Labour MPs. The decision was communicated to the Office for Budget Responsibility when a list of measures for the November 26 Budget was submitted. An income tax rise could have helped close a fiscal shortfall estimated by some economists at as much as 50 billion, but would break Labour's manifesto pledge not to raise income tax, national insurance or VAT.

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