The scrapping of the Winter Fuel Payment, which affects around 10 million pensioners, has sparked concerns among campaigners.

The decision is seen as part of Reeves’ larger strategy to address the UK’s financial woes, with tax hikes and spending cuts expected to be a central focus.

The Chancellor has reportedly been reviewing multiple tax exemptions, including the “normal expenditure out of income” loophole, which has allowed wealthier families to save on inheritance tax.

Wealth managers and…