Reeves' Budget: £30B Tax Hikes, Green Levy Cuts

Rachel Reeves upcoming budget announcement is expected to include a dozen tax increases, potentially totaling thirty billion pounds, to tackle the UKs public finances. Proposed hikes include pension contributions, gambling tax, tourism tax, and electric vehicle mileage charge. The income tax threshold freeze could extend until 2030, generating additional revenue. Fuel duty cut for drivers, but at a cost of three billion pounds. Green levies on energy bills may be removed to lower household costs, funded by reducing the Warm Homes Fund.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.