"We will do what's necessary to protect families, public services and hand down secure economy to next generation."
"It is clear that the Chancellor is going to break her pledge not to raise income tax, but the pain is likely to be targeted at pensioners. Egged on by the anti-pensioner think tanks such as the Resolution Foundation, and their man in Government Torsten Bell MP, the Chancellor is seriously considering compensating 'working people' for any rises in the basic rate of income tax by cutting national insurance, which of course retired people do not pay. This would be seen as a direct and deliberate attack on the living standards of older people, the large majority of whom already pay some income tax."
Prime Minister instructed Cabinet to prepare for difficult decisions ahead of the Autumn Budget on 26 November. Sir Keir Starmer ruled out increased borrowing or spending cuts, leaving tax rises as the primary option. The Chancellor and Rachel Reeves pledged to protect families, public services and to hand down a secure economy for the next generation, saying everyone must contribute. Starmer's spokesman described the Budget as a "very significant moment" because borrowing costs are high and criticised previous governments for austerity. Pensioner groups warned that proposed changes could target retirees, noting national insurance cuts would not benefit those who do not pay it.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]