Rachel Reeves has not ruled out tax rises in her October 30 budget.
The Chancellor spoke to the Commons yesterday, outlining some of her plans and confirmed a date for the first Labour budget in over 14 years.
During a press conference with the media later on yesterday evening, Reeves was asked whether she will be “straight” with the public on tax rises.
She did not rule out rises but reiterated her party’s manifesto commitment not to increase national insurance, income tax or VAT.
The Leeds West and Pudsey MP repeated that Labour did not know about £22billion of unfunded spending commitments on government books – laying the blame firmly on the Tories.
Reeves also stated that tax rises like imposing VAT on private schools, removing the non-dom tax status and increasing the energy profits levy are all being implemented.
Asked if she will unpick the previous cuts to national insurance, the Chancellor said she does not plan to increase it back up again.
On the future impact of the £22bn “black hole”, she said it’s “absolutely right” that spending pressures are “unlikely to go away any time soon”.
Reeves speaking in the House of Commons yesterdayGB NEWS The “black hole is not just for this year – which is why the cuts and spending savings that we announced today will also continue into subsequent years”.
Reeves also said she would need to make further “difficult decisions” over “spending, welfare and tax” at the autumn Budget.
With that in mind, do you trust Rachel Reeves with your tax? Have your say.