US EditionLeaked memo reveals Angela Rayner called for tax rises
- Angela Rayner, Deputy Prime Minister, sent a leaked memo in March 2024 urging Chancellor Rachel Reeves to raise taxes by £3 billion to £4 billion annually before the Spring Statement.
- The memo highlighted ongoing Labour discussions about financing, suggesting several tax hikes including bringing back the cap on pension tax relief and altering how dividends are taxed, while Reeves opposed increasing taxes and announced £5 billion in welfare reductions.
- Proposals in the memo targeted banks with a 5% surcharge, froze the 45% tax threshold at £125,140 to include more taxpayers, scrapped the dividend tax-free allowance, and ended inheritance tax relief on AIM shares.
- Conservative Shadow Chancellor Mel Stride criticized the memo as proof Labour plans fresh tax hikes on savers, pensions, and businesses, while a government spokesperson declined to comment on the leak.
- The memo’s tax rise suggestions signal ongoing Labour leadership tensions over spending and funding ahead of June’s departmental plans, with implications for future Budget decisions and possible opposition from party members.
22 Articles
22 Articles
Angela Rayner has overreached - but her ultimate prize could be the leadership
Angela Rayner’s carefully crafted memo to Rachel Reeves pushing for a new tax raid on savers shows the Deputy Prime Minister has overreached. But it also marks the return of Cabinet politics and a precursor of leadership battles to come.The document was submitted to the Treasury in March, but wended its way into The Daily Telegraph on Wednesday, and proposed eight tax increases. These included reinstating the pensions lifetime allowance and chan…
Angela Rayner 'suggested tax increase' on wealthier Brits in leaked memo to Rachel Reeves - The Mirror
The Deputy Prime Minister Angela Rayner's department reportedly wrote to the Chancellor in March urging her to consider 'alternatives' ahead of Spring Statement
Rayner tells Reeves she’s wrong
Sir Keir Starmer and Rachel Reeves will have their strategy tested today as Deputy Prime Minister Angela Rayner sets out her plan for higher taxes, and questions are raised about their approach to Reform. Is becoming Reform-lite the way to go? And, as the prime minister joins global efforts to put pressure on Israel over Gaza, could more sanctions be next? Listen on Spotify Apple Music Amazon Mu…
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