Rachel Reeves said this week that if she becomes Chancellor of the Exchequer, which we know is very likely, then she will impose austerity on the UK.
RACHEL Reeves said this week that if she becomes Chancellor of the Exchequer, which we know is very likely, then she will impose austerity on the UK.
Simultaneously, she ruled out increasing taxes on wealth, or on income derived from it, or on those who enjoy high income whatever its source. That said, those choices do come at a cost. The cost is to those who are in the top 10% of the income profile, many of whom are significantly under taxed at present. That is because they much lower rates of tax on their investment income and gains derived from wealth than are paid by people who work for their whole income.
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