Rachel Reeves is reportedly set to drop plans for a tax raid on pensions over fears it could unfairly affect public sector workers. The Chancellor has been warned that a scheme to reduce the 40 per cent tax relief on higher earners could disproportionately impact teachers and nurses,

Chancellor Rachel Reeves is also said to be reassessing its tax reforms for non-domiciled individuals, following warnings that the changes could lead to a “wealth exodus” and ultimately reduce revenue. A "non-dom" refers to a UK resident whose permanent home, or tax domicile, is considered to be outside the UK.

Exchequer secretary James Murray MP confirmed this at a Labour conference fringe event hosted by the British Retail Consortium, saying: “It’s within the current envelope. It’s all about raising the same amount of money overall, that’s the commitment.”

The Chancellor is preparing to set the direction of the Government's economic policy as she announces her approach to the public finances

Labour’s plan to introduce education tax has been slated by Tory MP Damien Hinds. From January 1, the government plan to impose VAT on private schools but the policy may be delayed due to warnings from unions, experts and school leaders.

The Chancellor has warned of 'tough decisions' to be made in the Budget - we reveal how savers could be affected

Rachel Reeves, Labour's chancellor, is set to deliver the party’s first Budget in 15 years on 30 October, as speculation grows over the measures that could be included. The fiscal announcement comes in the context of a £22bn public spending deficit,

Rachel Reeves could impose tax hikes of up to £130 billion in a bombshell budget, new analysis has warned. The Chancellor's statement on October 30 threatens to be "a real horrorshow for taxpayers" as Labour seizes cash to fund pay rises for public sector workers and projects including a state-owned energy company.