Category: financial markets

Rachel Reeves sets the scene – for big tax rises?

Rachel Reeves’ Scene Setter speech today was clearly designed to pave the way for big tax increases in the Budget. But there are plenty of moving parts and much could still change, even now. The Chancellor put her excuses in early (blaming everyone else), attempted a positive spin (tough choices are “necessary” to protect the NHS and … Continue reading Rachel Reeves sets the scene – for big tax rises? →

Raising income tax would be an act of desperation

The Chancellor is facing growing calls to ‘bite the bullet’ and raise the basic rate of income tax in the November Budget. This would carry huge economic and political risks, but Rachel Reeves may have left herself with no choice. It is already likely that the freeze on personal tax thresholds will be extended for … Continue reading Raising income tax would be an act of desperation →

The case for a late Budget

The Chancellor has confirmed that the date of the Autumn Budget will be Wednesday 26 November. This is relatively late, raising fears that a longer period of speculation and uncertainty will undermine confidence even further, but there are always trade-offs. I can think of five reasons why waiting might make sense. First, and perhaps most … Continue reading The case for a late Budget →