Rachel Reeves plotting major ‘pensions tax raid’ in huge blow to older Brits | Politics | News
A specialist said that Rachel Reeves would try to start a “pension tax raid” to help fill a large black hole in public finances. The chancellor has warnings that public finances may need to increase taxes again in the autumn budget to install a black hole up to £ 51 billion.
Reports now show that they should find approximately £ 5 billion tax increases or expenditure cuts to meet government U -turns, such as the controversial welfare invoice. Many experts, including Elliott Jordan-Doak of Pantheon Macroeconomics, believe that tax increases are now inevitable. The senior economist said that public finance was “chronic weak ve and a possible tax on pensions to remain in the government’s financial rules.
He said: “The chancellor will still have to collect taxes in October despite the matching official estimates.
“Big picture continues to be chronically weak in public finances.
“If he wants to fulfill the promise of changing the headline tax rates of the chancellor, we think that he should resort to sin and secret tax increases, duty increases and pension tax raids to meet the financial rules.”
Economists, despite the positive news that Britain’s borrowing last month is lower than expected, still warns that tax increases are on the horizon.
Published on Thursday, official figures showed that government borrowing slowed down to £ 1.1 billion in July and provided some relief for the chancellor.
The National Statistics Office said that the figure, which was 2.3 billion less than the same month of the previous year, was the lowest July borrowing figure for three years.
The National Institute of Economic and Social Research (NIESR) warned that the thought tank could be 51 billion of black holes in public finances.
The Labor Party reported that when their families sell their homes as part of the measures to put their homes as a part of the measures, the capital gain tax (CGT) is reported to look at the owners of high valuable houses.
Guardian also reported that the government is considering a revision of stamp tax in the purchases of the existing system.
By excluding the increasing income tax, employees ‘national insurance contributions and VAT, the government restricted Ms. Reeves’ options when it comes to collecting money, and it is inevitable to ask many of them to warn the tax hike.
