Jeremy Hunt MP, Shadow Chancellor, said pensioners will feel betrayed over fuel allowance cut announced by Labour Chancellor Rachel Reeves.
The Chancellor admitted that the burden on Brits will rise as she blamed the Tories for leaving a £22billion black hole in the government books.
'We will stick by those. But there'll be more difficult decisions to come in the Budget because of the inheritance that we now face.' The Chancellor's review of the public finances suggests she needs to find more than £16billion to balance the books at the Budget on October 30.Although Keir Starmer has pledged that the main rates of income tax, national insurance and VAT will not be increased, a variety of other options have been floated to close the gap.
The Labour manifesto committed to scrapping non-dom status, adding VAT to private school fees and increasing stamp duty on buyers from abroad. The reduction was introduced in March 2022 by then-Chancellor Rishi Sunak to ease the cost-of-living burden on families amid soaring oil prices.
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