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With the Budget looming and a funding gap of up to £20bn, Independent readers have weighed in on how Rachel Reeves should adjust taxation.
According to the latest reports, the chancellor faces the prospect of raising income tax while cutting National Insurance (NI) on 26 November, as she seeks to balance the books.
Many readers argued that a modest rise in income tax, particularly for wealthier earners, would be the fairest approach – especially if paired with a reduction in NI to support lower-paid workers and smaller employers.
Others expressed concern for pensioners and those on low incomes, warning that even a 2p hike could reduce take-home pay and undermine the value of the triple lock.
Several highlighted the difficult choices Labour faces: while taxing savings, capital gains, property, or VAT may be politically appealing, these measures risk stifling growth and investment.
Some suggested alternative approaches, such as a wealth tax or simpler reforms – cutting bureaucracy, streamlining VAT, or abolishing stamp du
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