UK Budget Could Target Pensions and Capital Gains to Avoid Austerity
Chancellor Rachel Reeves faces pressure to raise £25 billion without taxing working-age citizens.
- Rachel Reeves is considering increasing national insurance charges on employer pension contributions to raise funds.
- The Institute of Fiscal Studies estimates that £25 billion is needed to fulfill Labour's spending commitments.
- A proposed capital gains tax hike to as much as 39% has sparked debate over its potential impact on economic growth.
- Labour's decision to limit winter fuel payments has faced criticism for affecting vulnerable pensioners.
- The Chancellor's options are constrained by Labour's promise not to increase taxes on working people.
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