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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