Overview
- Officials briefed by the government told the Financial Times the decision was sent to the Office for Budget Responsibility on Wednesday as revised ‘major measures’ for the Budget.
- Sterling slipped and gilt yields rose after the reports, reflecting market concern over how the Treasury will now meet its fiscal rules without a headline rate rise.
- Treasury options under consideration reportedly include freezing or cutting income tax thresholds and select levies, such as on gambling or high‑value properties, to raise revenue.
- Separate reporting says proposals for a charge on limited liability partnerships have been abandoned after Treasury modelling, with uncertainty over a mooted exit tax on wealthy leavers.
- Industry groups warn that curbs on salary‑sacrifice arrangements or pension caps—floated as potential technical changes—could hit retirement saving, adding pressure as ministers finalize the 26 November plans.