Reeves' income tax u-turn will make system too complicated', warn economists
Briefly

Reeves' income tax u-turn will make system too complicated', warn economists
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"Rachel Reeves former top adviser has joined leading economists in warning that her decision to abandon income tax rises in the upcoming Budget and pursue smaller interventions will overcomplicate the system. The chancellor was widely expected to hike income tax in her fiscal plans later this month to fill a significant hole in the public finances. But the Financial Times has reported she has ripped up her earlier proposals and will look at different ways to shore up the fiscal deficit."
The Independent covers a wide range of issues including reproductive rights, climate change and Big Tech and invests in investigative reporting and documentary production. The outlet avoids paywalls and solicits donations to fund on-the-ground journalism and balanced reporting. Rachel Reeves and leading economists warned that abandoning planned income tax rises in favour of smaller, complex interventions risks overcomplicating the tax system and failing to fill a significant fiscal hole. The chancellor reportedly scrapped earlier proposals and will seek other measures to shore up the fiscal deficit, prompting concerns that reliance on inefficient new taxes will not create a sufficient buffer against further global shocks.
Read at www.independent.co.uk
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