How Labour could raise taxes as Starmer admits budget will be ‘painful’
Support trulyindependent journalismFind out moreCloseOur mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.Whether $5 or $50, every contribution counts.Support us to deliver journalism without an agenda.Louise ThomasEditorKeir Starmer has warned that Labour’s first autumn Budget will be “painful” in his first keynote address from No 10, prompting fears of that unpopular tax rises will be amongst the announcements.Chancellor Rachel Reeves has already confirmed that her statement will bring fresh tax rises as she says more needs to be done to fill the government’s shortfall in public finances. This reasoning was repeated by the prime minister as he reiterated the need to plug the £22bn spending gap that was “hidden” by the previous conservative government.The announcements come after Ms Reeves announced a slate of cost-cutting measures to grapple with the issue in July. These included scrapping the Winter Fuel Payment for millions of pensioners, alongside halting several in-progress infrastructure projects.Many experts now anticipate that the chancellor will look to both raise taxes and cut costs in her first Budget in October, bolstered by the government’s suggestions that the measures are necessary after errors made by the previous Conservative government.Chancellor Rachel Reeves will deliver her first Budget in October More