Published On: Sat, Jul 6th, 2024

Savers race to protect their wealth by doing this as Labour tax raids loom | Personal Finance | Finance


PM Starmer and new chancellor Rachel Reeves have said they won’t increase income tax, national insurance or VAT, or restore the pensions lifetime allowance. However, we’re in the dark over which taxes they will raise.

Many expect Reeves to increase capital gains tax (CGT) when she holds her first Budget, probably in November.

She may also hike inheritance tax (IHT). We just don’t know.

And we’ve absolutely got no idea what the Labour Party is likely to do with our pensions.

Options include…



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