From Morningstar: 2024-10-15 09:54:00

The UK Prime Minister has not ruled out increasing employers’ national insurance contributions in the upcoming budget, while Labour promises not to raise taxes on “working people”. Chancellor Rachel Reeves may announce more tax rises than originally planned, facing a challenge to keep borrowing in check and prevent austerity measures.
Experts warn that tax rises are likely necessary to prevent cuts to government spending, with a potential increase in capital gains tax to 39% dismissed as “wide of the mark” by Labour leader Keir Starmer. Reeves needs to address a £22 billion deficit caused by overspending, balancing spending cuts with revenue increases.



Read more at Morningstar: Starmer: We’ll Stick to Manifesto Tax Promise in Budget