Rachel Reeves promises to grip the cost of living' in autumn budget

"Some of the tax rises she is likely to opt for include: Freezing income tax thresholds for an extra two years to 2030, bringing more people into higher tax bands as wages rise Making salary sacrifice schemes less generous including those for pension contributions Bringing in higher tax on the most expensive properties, including a surcharge on the highest value houses A pay-per-mile scheme on electric cars to help fill the tax gap from petrol duty as more people opt for green vehicles."

"Reeves is coming back with more tax rises despite saying she would not have to again after last year's increase in employer national insurance contributions. However, she has backed away from the option of raising income tax, which was under consideration for some weeks. Keir Starmer, who is at the G20 in South Africa, declined to guarantee future Labour budgets would not contain tax rises. Obviously, I do want the budget to focus on growth, stability, which [are] the two pillars that are really important,"

Rachel Reeves will present a second budget to close a roughly £20bn fiscal gap. Measures include scrapping the two‑child welfare limit, freezing rail fares, and a multibillion‑pound tax package to stabilise public finances. Likely tax moves include freezing income tax thresholds to 2030, tightening salary‑sacrifice pension schemes, levying higher taxes and a surcharge on the most expensive properties, and a pay‑per‑mile charge on electric cars to recoup petrol duty revenue. Reeves has ruled out raising income tax for now but will pursue other tax increases despite last year’s employer national insurance rise; Keir Starmer declined to guarantee that future Labour budgets would contain no tax rises.

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