UK budget without an income tax rise: four options the Treasury is considering
Chancellor of the Exchequer John Healey is preparing a budget for Wednesday without raising income tax, VAT or National Insurance rates, as the Labour Party promised in its 2024 manifesto. BBC Verify examines four possible sources of revenue: raising the tax on banks, increasing the tax on gaming machines, making online platforms responsible for collecting VAT, and cutting welfare spending. Chancellor of the Exchequer John Healey is preparing Wednesday's budget without raising income tax, VAT or National Insurance rates, as the Labour Party promised in its 2024 manifesto. BBC Verify examines four possible sources of revenue: raising the bank tax, increasing the tax on gaming machines, transferring VAT collection to online platforms, and cutting social security spending.
Aziz Karimov