Minister refuses to rule out tax hikes in autumn budget
Evening Standard|July 29, 2024
Starmer ally leaves possibility of hikes open as Reeves sets out spending cuts
Nicholas Cecil
Minister refuses to rule out tax hikes in autumn budget

ONE of Sir Keir Starmer’s close allies today refused to rule out tax rises in an autumn budget as Labour seeks to plug a multi-billion-pound black hole in the public finances.

Cabinet Office minister Pat McFadden said the new Government would stick to its election manifesto pledge not to hike VAT, income tax or national insurance. However, ahead of Chancellor Rachel Reeves announcing lower spending to deal with the public finances crisis, he left open the prospect of a series of other tax increases.

Mr McFadden told BBC radio: “We said during the election that there would be no rises in income tax, VAT or national insurance. Those commitments hold.

“People should not expect announcements about taxation today. Today is about setting out candidly the situation that we have discovered and responding with some very necessary and tough decisions about spending.”

His comments, though, are likely to fuel expectations of tax rises later this year, most likely targeted at the wealthy and which could include changes to inheritance tax and capital gains tax.

هذه القصة مأخوذة من طبعة July 29, 2024 من Evening Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة July 29, 2024 من Evening Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من EVENING STANDARD مشاهدة الكل
Vamos Rafa! It's time to go for Spain's brave warrior
The London Standard

Vamos Rafa! It's time to go for Spain's brave warrior

'Shy and funny' Nadal bows out as sport's ultimate competitor

time-read
2 mins  |
November 21, 2024
Does Angeball have a winning future at Spurs?
The London Standard

Does Angeball have a winning future at Spurs?

Head coach divides supporters with his ultra-attacking tactics

time-read
5 mins  |
November 21, 2024
The £5bn-a-year tax timebomb that's set to devastate London hospitality
The London Standard

The £5bn-a-year tax timebomb that's set to devastate London hospitality

The capital will bear the brunt of Rachel Reeves’s National Insurance raid

time-read
4 mins  |
November 21, 2024
Live like a Queen...
The London Standard

Live like a Queen...

...in the house gifted to Anne of Cleves by Henry VIII in 1540 and now onsale for 3.75 million

time-read
3 mins  |
November 21, 2024
At home with...Matthew Williamson
The London Standard

At home with...Matthew Williamson

The designer’s Belsize Park flatis a grand canvas for his ever-changing colour palette

time-read
5 mins  |
November 21, 2024
Hidden London
The London Standard

Hidden London

The first time I made my way to Maison Assouline was with a broken foot, in a tragic boot and crutches.

time-read
3 mins  |
November 21, 2024
Jameela Jamil on why New York will always have her heart...
The London Standard

Jameela Jamil on why New York will always have her heart...

..and her stomach. The actor and activist shares her favourite brunch spot, a secret bar and her brownstone fantasies

time-read
6 mins  |
November 21, 2024
The London Standard

My life in bespoke suits

Back in the Eighties, suits were so wide that even the shoulder pads had shoulder pads. Suits back then were boxy, square, and designed to make you look like a quarterback, a bouncer or a tank.

time-read
4 mins  |
November 21, 2024
Cher's wild world
The London Standard

Cher's wild world

The singer's memoir is full of jaw-dropping tales

time-read
4 mins  |
November 21, 2024
'I was told I could stay in the UKthen kicked out of my asylum accommodation'
The London Standard

'I was told I could stay in the UKthen kicked out of my asylum accommodation'

As our appeal hits 1m, we turn the spotlight on an official policy that’s making newly recognised refugees homeless

time-read
7 mins  |
November 21, 2024