What's behind Rachel Reeves's 'hokey cokey' on income tax rises?

Rachel Reeves considered breaking manifesto pledges by raising income tax rates but has now opted for other revenue-raising measures due to improved economic forecasts. The "2 up, 2 down" plan proposed raising income tax rates by 2p while cutting National Insurance by 2p, has not been advanced. The decision to refrain from tax rate hikes reflects a commitment to fiscal rules and manifesto promises amid concerns over public finances.