Times Front Page 5th of November 2025

Rachel Reeves signalled broad tax rises to repair the public finances, saying we will all have to do our bit. Ahead of the Budget she is weighing measures likened to 1970s levels, implying higher bills for middle earners. Business groups warn on growth; she argues stability requires it.

i Front Page 5th of November 2025

Rachel Reeves signalled a possible basic-rate income tax rise in the Budget, the first since 1975, to raise up to £30bn. In a pre-Budget speech she said everyone will need to contribute and declined to renew Labour’s pledge not to raise income tax, NI or VAT. Economists suggest a 2p increase.