{"id":75882,"date":"2024-06-06T07:31:38","date_gmt":"2024-06-06T06:31:38","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=75882"},"modified":"2024-06-06T07:31:38","modified_gmt":"2024-06-06T06:31:38","slug":"is-labour-going-to-increase-taxes-after-all","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2024\/06\/06\/is-labour-going-to-increase-taxes-after-all\/","title":{"rendered":"Is Labour going to increase taxes, after all?"},"content":{"rendered":"<p>Will Labout use at least some of the recommendations in the <a href=\"https:\/\/taxingwealth.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Taxing Wealth Report 2024<\/a>? It seems possible. The <a href=\"https:\/\/www.ft.com\/content\/81c9736f-5aae-463c-9203-258bf9b2e129?segmentId=6faa8072-922c-4fbf-5b33-45a1342b0cc3\" target=\"_blank\" rel=\"noopener noreferrer\">FT has reported this morning<\/a> that:<\/p>\n<blockquote><p>UK shadow chancellor Rachel Reeves has \u201cno plans\u201d to revive her previous call for a tax increase on the pension savings of higher earners, but has refused to categorically rule out such a move.<\/p>\n<p>Her spokesperson said Reeves had \u201cno plans\u201d to change the current regime of pension tax relief, even though earlier in her career she proposed reforms that would increase taxes on pension savings by higher earners.<\/p>\n<p>\u201cThat\u2019s not a Labour policy \u2014 we have no plans to change pension tax relief,\u201d the spokesperson added. \u201cIt will not be in our manifesto. It\u2019s not something we are looking at and we have no plans to introduce it.\u201d<\/p><\/blockquote>\n<p>Labour is going to have to find money from somewhere if it is to meet its economic objectivces. Reducing tax relief on pension contributions by higher-rate taxpayers would save \u00a314.5 billion in tax subsidies to the already well-off. Why wouldn't Labout want to do that?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will Labout use at least some of the recommendations in the Taxing Wealth Report 2024? It seems possible. The FT has reported this morning that:<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2024\/06\/06\/is-labour-going-to-increase-taxes-after-all\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,147,118,106,97,209],"tags":[],"class_list":["post-75882","post","type-post","status-publish","format-standard","hentry","category-economics","category-inequality","category-labour","category-politics","category-tax-justice","category-taxing-wealth-report"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/75882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=75882"}],"version-history":[{"count":1,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/75882\/revisions"}],"predecessor-version":[{"id":75883,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/75882\/revisions\/75883"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=75882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=75882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=75882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}