Kir Stamor Refused to rule Tax increases He faces growing in autumn Pressure to fill £ 50bn deficiency In government finance.
The Prime Minister said while defending his record Labor Since coming to power last year, the “economy stabilized” and pledged. Budget “It’s sure people will feel better” because they tried to remove the increasing pressure on the issue.
Prominent economists have warned Rahel reeves That he should increase taxes or tear his major lending Rule A £ 50bn black hole left by a combination Labor U turn, High lending and dull economic development.
Clearly rule to increase VAT, Income tax And the corporation tax, he said: “In the autumn, we will receive full forecast and clearly set our budget.”
National Economic and Social Research Institute (NIESR) – A major economic think tank – said Chancellor Autumn can also see the cut in the budget of the season, as a way to raise the required funds by 2029–30, to remove £ 41.2bn deficiency on its borrowed goals, it is determined by its self-logged “stability rule”.
To restore a £ 10bn buffer which has been maintained by the government since last year’s budget, Chancellor So the total £ 51.1bn should be increased, he warned.
NeserThe report stated that the Chancellor has been left with difficult task to try to fulfill his fiscal rules, while maintaining the expenses to maintain the commitments and maintain the promotion of an a declaration to not increase taxes on working people.
But after a swath to cut squeezing the departmental budget in the final spending review, tax growth is a more possible option.
Pressure to grow Chancellor is increasing Consider income tax or money tax On the rich.
Former Tony Blair’s former political secretary John McCornan said that Sir Kir and Ms. Reeves would have to make a “tough option” and suggested that options included a levy on banks, money taxes and so -called ‘sins’.
He said: “I think (ministers) are going to find some taxes … I think the tax you want to see is, ‘Let’s look at those who had done well in the last 14,15 years’, the banks that got a lovely deal from George Osborn.” He said that some kind of tax or levy on banks, “was worth seeing. Because I am not sure people will go on the streets to say ‘no, hands from my bank’ on the streets.”
He also highlighted the so -called sins, such as “you can increase the tax” on gambling, he told the BBC.
He said: “I am not in favor of a blanket money myself, but you can see taxes on money. Is it right that tax on capital is taxed at a lower rate than returns?”
Former Chief Economist Jonathan Ports in the Department of Work and Pension said that independent fuel duty should increase and more rich older people should pay more.
He said: “Obviously there is still a lot of uncertainty as to how large taxes should increase. I think the basic principle requires tax and pension system, so that people of better age, especially those with adequate property and pension funds, contribute to a huge contribution to address fiscal pressures, which grow for NHS, social care and pension.”
NIESR forecast also warned that the poorest 10 percent of the people-the amount of 2.8 million houses-have seen their standard of living 1.3 per cent falling under labor, which is a few percent less than the pre-covered levels.
On the visit to Milton Keins, the PM stated that by focusing the budget “living standards” and “to ensure” people feel better “.
He said that the Chancellor’s “focus” would be “standard of living”, so that we will build on what we do in the first year of this government. We have stabilized the economy. This means that interest rates have now been cut four times. Anyone on a hostage to see that makes a big difference on a monthly basis how much they pay.
“In the first year, we have increased the wages along with the private sector as well as the minimum wages, which means that people have received a little more money in their pockets, and therefore at this level which will be determined in the budget, but the attention will be too much and will be very high and will be at a standard of living and ensure that people feel better.”
Asked if he disagreed with economists whether the budget has been warned of tax growth, it will be necessary to increase revenue, the PM said, “Some figures that are being excluded are not figures that I recognize.”
