At Prime Ministers Questions Starmer promised the biggest upgrade to workers' rights in a generation, as part of the new government's plan to make work pay, encouraging economic growth.
Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today.
Tax-free access to pension pots could also be hammered, while many expect increases to inheritance tax and moves to milk entrepreneurs. This would be on top of the £9billion tax rise from measures set out in Labour's manifesto, adding up to almost £25billion in total – equivalent to around £900 per UK household.
'This would, of course, need to come on top of the £9billion of specific tax rises set out in Labour's manifesto, so would be a tax rise of around £25billion in total. A net tax rise of this scale would be bigger than in the July 1997 and October 2010 Budgets, both of which took place early in the parliament of a new government.'
'The temptation then is to borrow more, perhaps changing the definition of debt targeted by the fiscal rules. Tom Selby, director of public policy at stockbroker AJ Bell, said: 'This seems the most straightforward way to raise cash quickly if the Government wants to raise money from pensions. It wouldn't be a surprise.'
News Birmingham Keir Starmer Rishi Sunak Rachel Reeves Labour Manchester
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