A senior Labour minister has asserted that Britons “don’t need to worry about” tax rises when asked why the Government has not re-committed to no hike on VAT.
Darren Jones, the Chief Secretary to Prime Minister Keir Starmer, asserted that that Labour’s previous manifesto to not raise taxes on “working people” remains in place.
Darren Jones MP has suggested Britons ‘don’t need to worry’ about a more tax hikes in the upcoming Budget
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When asked by Sky News’ Beth Rigby if Labour’s previous pledge is being committed to, Mr Jones said: “No. The manifesto stands. And the budget will be on 26 November.”
Address concerns over a potential VAT on the private healthcare sector, Health Secretary Wes Streeting told the BBC that “it’s not happening”.
During her speech at yesterday’s Labour Party Conference, the Chancellor promised to keep “taxes, inflation and interest rates as low as possible”.
However, she indicated that further rate hikes could be on the horizon and said the Government’s fiscal options have been made “harder” by “global headwinds”.
Reporting from the Daily Mail suggests VAT is being considered as tax-raising lever that will be pulled by the Treasury to generate revenue.
VAT is a tax charged at a standard rate of 20 per cent on most goods and services in the UK, unless they are classed as reduced or zero-rated.
Currently, the majority private healthcare services are exempt from VAT, however some procedures which are classified
Most private healthcare services are currently exempt from VAT, however some cosmetic procedures w
Christie Cook, the managing director of Retail at Hodge Bank, said: “Taxation will always be a focal point in any Budget.
“While sweeping tax reforms are unlikely, we may see adjustments aimed at easing pressure on working households or stimulating business investment.
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Britons are concerned about future tax rises from HMRC
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GETTY“Even small changes can have ripple effects on people’s disposable income and savings behaviour.
“Beyond immediate cost-of-living pressures, the government will likely want to highlight long-term financial resilience.
“That could mean revisiting pension policies or reinforcing the importance of saving for retirement.
“With an ageing population and younger generations struggling to build wealth, it’s an area that demands forward-thinking solutions.”