Prime Minister Keir Starmer, accompanied by Rachel Reeves and Ed Miliband, visited a glass factory today. Their visit aimed to engage with workers and address key issues facing the industry, highlighting the importance of British manufacturing.
Rachel Reeves is facing a scramble to balance the books in the Budget after seemingly abandoning a 'mad' plan to slash pension contribution reliefs.
Businesses are also braced for pain with Savanta research finding nearly three-quarters expect their burden to increase - and two-thirds fearing their ability to operate will be hampered. Questions have also been raised about a move to ditch non-dom status, with Treasury concerns that wealthy individuals will simply relocate and revenues will be far lower than anticipated.
The influential body said it was 'hard to justify' the current rule, which can effectively subsidise savings for those with up to around £1million. Savanta found that 14 per cent of UK business leaders will look to base their firms elsewhere if taxes are hiked at the Budget. 'Just a year ago the talk was all about whether the Conservatives would cut or even abolish inheritance tax. But the tables have turned on death duties in the last 12 months, and particularly since the General Election, as Downing Street has admitted the need for more tax rises.
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Inheritance taxes 'in the crosshairs' at Budget as Rachel Reeves 'abandons mad plan to slash pension...Prime Minister Keir Starmer, accompanied by Rachel Reeves and Ed Miliband, visited a glass factory today. Their visit aimed to engage with workers and address key issues facing the industry, highlighting the importance of British manufacturing.
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The inheritance tax changes Rachel Reeves could make – and how they could affect youChancellor Rachel Reeves is being urged to abolish the £175,000 residence nil-rate band in the Budget and other changes are possible
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Rachel Reeves 'could target pensioner and driver taxes' in the Budget to raise more than £20...TUC General Secretary Paul Nowak, RMT General Secretary Mick Lynch and PCS Union General Secretary Fran Heathcote warn against reduction in winter fuel allowance cut.
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Rachel Reeves 'could target pensioner and driver taxes' in the Budget to raise more than £20...TUC General Secretary Paul Nowak, RMT General Secretary Mick Lynch and PCS Union General Secretary Fran Heathcote warn against reduction in winter fuel allowance cut.
Read more »
Rachel Reeves 'could target pensioner and driver taxes' in the Budget to raise more than £20...TUC General Secretary Paul Nowak, RMT General Secretary Mick Lynch and PCS Union General Secretary Fran Heathcote warn against reduction in winter fuel allowance cut.
Read more »
Treasury refuses to release details of £22billion 'black hole' at the centre of Rachel Reeves Budget...Chancellor Rachel Reeves axed the winter fuel allowance for ten million older people. Speaking to BBC Breakfast, the chancellor said: 'When confronted with a £22bn black hole I had to act'.
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