Rachel Reeves is reportedly set to drop plans for a tax raid on pensions over fears it could unfairly affect public sector workers. The Chancellor has been warned that a scheme to reduce the 40 per cent tax relief on higher earners could disproportionately impact teachers and nurses,

Rachel Reeves was expected to reduce the current 40 per cent level of tax relief on higher earners in the Budget, but has changed direction

Chancellor Rachel Reeves is understood to have been told by senior Treasury officials that reducing the level of tax relief on higher earners would disproportionally hit those on modest incomes who wo

Chancellor Rachel Reeves is also said to be reassessing its tax reforms for non-domiciled individuals, following warnings that the changes could lead to a “wealth exodus” and ultimately reduce revenue. A "non-dom" refers to a UK resident whose permanent home, or tax domicile, is considered to be outside the UK.

Rachel Reeves, Labour's chancellor, is set to deliver the party’s first Budget in 15 years on 30 October, as speculation grows over the measures that could be included. The fiscal announcement comes in the context of a £22bn public spending deficit,

Rachel Reeves could impose tax hikes of up to £130 billion in a bombshell budget, new analysis has warned. The Chancellor's statement on October 30 threatens to be "a real horrorshow for taxpayers" as Labour seizes cash to fund pay rises for public sector workers and projects including a state-owned energy company.