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Tax Hikes Loom as Spending Review Approaches

6/1/2025

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Summary

Story summary

Chancellor Rachel Reeves may impose tax hikes as analysts brace for the June 11 spending review. Meanwhile, Prime Minister Keir Starmer suggests a shift in Winter Fuel Payments, potentially easing means-testing. The IMF advocates for heightened spending, yet worries loom over funding, with frozen tax thresholds and possible ISA allowance cuts threatening taxpayers' wallets.

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Story summary

Chancellor Rachel Reeves may impose tax hikes as analysts brace for the June 11 spending review. Meanwhile, Prime Minister Keir Starmer suggests a shift in Winter Fuel Payments, potentially easing means-testing. The IMF advocates for heightened spending, yet worries loom over funding, with frozen tax thresholds and possible ISA allowance cuts threatening taxpayers' wallets.