Tax raids on people they deem to be “wealthy” will be “part of the story” at the national budget next month, the UK’s Chancellor told the International Monetary Fund (IMF).
The British government feels it needs to raise at least an extra £20 billion after it gave up on welfare reform over internal resistance from within the ruling Labour Party, and over poor economic forecasts eroding natural predicted growth of the tax take. Constrained by an election-time promise not to increase taxes on “working people” that sophistry might succeed in arguing they have managed to keep so far, Chancellor Rachel Reeves has said the focus will be on squeezing…
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