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Burnham Plans Tax Rise; OBR Flags 2/3 Workers, CGT Spike

7/11/2026

Summary

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Andy Burnham said his government may raise taxes, prompting an Office for Budget Responsibility warning that two-thirds of workers could become higher-rate taxpayers and cut the labour supply by two million by 2075.
Rathbones warned that aligning Capital Gains Tax with income-tax rates could raise tax on a £50,000 gain to £21,150 for additional-rate taxpayers.
Burnham claimed Greater Manchester’s finances are rock solid, noting his manifesto leaves room for tax adjustments.

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Story summary

Andy Burnham said his government may raise taxes, prompting an Office for Budget Responsibility warning that two-thirds of workers could become higher-rate taxpayers and cut the labour supply by two million by 2075.
Rathbones warned that aligning Capital Gains Tax with income-tax rates could raise tax on a £50,000 gain to £21,150 for additional-rate taxpayers.
Burnham claimed Greater Manchester’s finances are rock solid, noting his manifesto leaves room for tax adjustments.