Overview

• At Prime Minister’s Questions, Starmer refused to rule out taxing pension contributions or new charges on the self-employed.
• The Treasury faces a budget shortfall estimated at £20–40 billion after slower growth and previous revenue pledges.
• Officials are considering a £3 billion levy on gambling and windfall taxes on banking and energy firms.
• Downing Street has signalled openness to VAT reforms within manifesto limits to boost receipts without altering the headline rate.
• Inconsistent ministerial definitions—from “anyone with a payslip” to “modest incomes”—have blurred the pledge to shield working people.