Overview

• Rachel Reeves reveals a £21.9bn funding gap, justifying future spending restraints and tax hikes.
• Labour's proposed pension review may lead to reduced incentives for private pension savings.
• Public sector pension funds could be redirected to finance government schemes, potentially lowering returns.
• Reeves' first Budget in October is expected to introduce new taxes affecting middle-income earners.
• Critics argue that Labour's policies will disproportionately impact savers and asset holders.