Jeremy Hunt MP, Shadow Chancellor, said pensioners will feel betrayed over fuel allowance cut announced by Labour Chancellor Rachel Reeves.
The Chancellor admitted that the burden on Brits will rise as she blamed the Tories for leaving a £22billion black hole in the government books.
'We will stick by those. But there'll be more difficult decisions to come in the Budget because of the inheritance that we now face.' The Chancellor's review of the public finances suggests she needs to find more than £16billion to balance the books at the Budget on October 30.Although Keir Starmer has pledged that the main rates of income tax, national insurance and VAT will not be increased, a variety of other options have been floated to close the gap.
The Labour manifesto committed to scrapping non-dom status, adding VAT to private school fees and increasing stamp duty on buyers from abroad. The reduction was introduced in March 2022 by then-Chancellor Rishi Sunak to ease the cost-of-living burden on families amid soaring oil prices.
News Labour Rachel Reeves Jeremy Hunt Keir Starmer
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fury as Chancellor Rachel Reeves admits she WILL hike taxes in Budget on October 30Jeremy Hunt MP, Shadow Chancellor, said pensioners will feel betrayed over fuel allowance cut announced by Labour Chancellor Rachel Reeves.
Read more »
How chancellor Rachel Reeves' statement will affect your family financesCurious how the measures announced in new Labour chancellor's statement will affect your family's finances? We explain all.
Read more »
Pension tax ‘on Rachel Reeves’ agenda’ as Chancellor fails to rule out riseExperts have suggested changes to the way pensions are taxed are becoming more likely
Read more »
Brits will be clobbered with tax hikes in Halloween Budget, confirms Chancellor Rachel Reeves...Chancellor Rachel Reeves announces £22bn black hole in UK budget
Read more »
Chancellor Rachel Reeves meets Yorkshire mayorsThe group of Labour mayors talked to the chancellor about devolution and growth across the region.
Read more »
Chancellor Rachel Reeves pledges to kickstart 'big bang on growth' by boosting Britons' pension...Labour's Chancellor tells Mail on Sunday readers that Sir Keir Starmer's Government will introduce reforms 'to unlock growth, boost investment and deliver for pensioners'.
Read more »