Story perspectives

Chancellor Reeves Proposes Tax Cuts to Tackle Cost Crisis

10/18/2025

30 6

Center

Reeves Tackles Cost Crisis

Chancellor Rachel Reeves announced targeted action in the upcoming Budget to address the UK cost of living crisis.
She is considering cutting the 5% VAT on energy bills and reducing green levies.
Reeves indicated higher taxes on the wealthy will be included in the Budget for November 27.
A Prime Minister's spokesman said the measures aim to avoid harming growth while filling a £20 billion to £30 billion gap.

Left

Reeves Considers Welfare Reforms

Chancellor of the Exchequer Rachel Reeves is weighing major welfare reforms ahead of the November budget, including potential Motability scheme cuts.
The plan could end VAT and insurance premium tax exemptions for Motability, raising about £1.2 billion.
Critics warn that higher costs for disabled people would reduce mobility and independence.
The Institute for Fiscal Studies says welfare savings may be necessary to address a £10-20 billion shortfall in public finances.

1 of 2

Reeves Tackles Cost Crisis

Chancellor Rachel Reeves announced targeted action in the upcoming Budget to address the UK cost of living crisis.
She is considering cutting the 5% VAT on energy bills and reducing green levies.
Reeves indicated higher taxes on the wealthy will be included in the Budget for November 27.
A Prime Minister's spokesman said the measures aim to avoid harming growth while filling a £20 billion to £30 billion gap.

1 / 2