Reeves refuses to rule out income tax rises in Budget

Chancellor Rachel Reeves of the UK has not ruled out a potential income tax hike in the upcoming Budget, contrary to Labour's previous election promises. The move comes amidst discussions to address a £22 billion government finance gap, with the possibility of increasing taxes on wealthier individuals and professional partnerships. Reeves' focus on ensuring fair taxation of those "with the broadest shoulders" may lead to the first rise in income tax rates since 2010, including the introduction of a potential 1p increase in the basic rate.