Labour Plans to End Sunak ‘Stealth Tax’ on UK Worker Incomes
- Shadow chancellor says fiscal rules to determine affordability
- Priority to unfreeze personal allowance, extend full expensing
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A Labour government would seek to end the stealth raid on the incomes of working households and give businesses lasting tax relief on investment, Shadow Chancellor Rachel Reeves said as she pledged to tackle poor living standards and economic growth.
Speaking to the media on Monday, she said Labour aims to lift a freeze on tax thresholds that is on track to cost workers on the basic 20% rate of income tax £750 ($920.14) a year each. She would also make full-expensing, a 100% tax relief on capital investment, permanent.