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Labour Eyes Tax Hikes Amid £9.9 Billion Budget Gap

6/13/2025

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Summary

Story summary

Rachel Reeves is considering tax hikes this autumn in response to a staggering £9.9 billion budget gap and a troubling 0.3% economic decline. Extending the freeze on income tax thresholds could burden workers with an extra £324 each year, while Labour MPs push for wealthier individuals to shoulder the tax increase.

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Story summary

Rachel Reeves is considering tax hikes this autumn in response to a staggering £9.9 billion budget gap and a troubling 0.3% economic decline. Extending the freeze on income tax thresholds could burden workers with an extra £324 each year, while Labour MPs push for wealthier individuals to shoulder the tax increase.