Reeves refuses to rule out income tax rises in Budget

"Although I can't talk about individual measures at this stage, I understand that the cost of living is still people's number one concern."

"continue to support working people by keeping their taxes as low as possible"

"those with the broadest shoulders should pay their fair share"

"manifesto commitments stand"

Chancellor Rachel Reeves refused to rule out raising income tax in next month's Budget while saying her aim is to keep taxes as low as possible to support working people. She declined to discuss individual measures while writing the Budget and acknowledged that the cost of living remains people's top concern. Labour's manifesto pledged not to raise the basic, higher, or additional rates of income tax and not to increase National Insurance, though employer National Insurance was later increased. Reeves indicated a likely focus on wealthier individuals, and officials are exploring measures such as higher taxes on partnerships used by lawyers and accountants, though economists question the revenue potential of those steps.

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