When questioned on Wednesday if she could clearly rule out hiking the two taxes at the budget this October, Rachel Reeves refused to say “yes” or “no” three times.
In his most significant indication yet that taxes will increase, Sir Keir Starmer stated the day before that the October budget is “going to be painful”.
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Labour avoided discussing whether other taxes would increase while announcing repeatedly both during and after the election campaign that they would not raise income tax, national insurance, or VAT.
There are two types of taxes that are levied on the estates of deceased individuals: inheritance tax and capital gains tax.
When asked on Wednesday if she intended to raise both taxes, Ms. Reeves responded, “I will not draft a budget two months in advance of its delivery.
“On spending, on welfare, and on tax, we’re going to have to make a series of difficult decisions,” she responded when asked again whether she could rule out raising them. “I’ll set out that detail in the right and proper way on the 30 October at that budget,” she continued.
