UK: Reeves Scraps Income Tax Hike Plans Before Budget

Published 3 days ago

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Above: Prime Minister Keir Starmer and Chancellor Rachel Reeves on Nov. 13, 2025 in Llangefni, Wales. Image credit: Temilade Adelaja-WPA Pool/Getty Images

The Spin

Left narrative

Scrapping income tax increases protects working families from another devastating financial blow during tough times. Instead of punishing ordinary earners, the government should target big bank profits and implement wealth taxes on the ultra-rich. Only then will this reversal truly spares the 99% from unfair burden.

Canary

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Right narrative

Reeves' last-minute abandonment of income tax hikes represents a catastrophic political flip-flop that destroys market confidence. Bond yields are surging as investors lose faith in the government's fiscal credibility. This is yet another example of why Labour should never be trusted with the British economy.

Andrew Neil on X

Julian Jessop on X