Nigel Farage hit out at Rachel Reeves after she laid the groundwork for Budget tax hikes in a speech this morning. The Reform UK leader said the Chancellor had already “whacked up taxes” in her statement last year, where she unveiled a £40 billion raid.
Branding her speech today as “pretty dismal stuff”, he warned that more tax rises are on the horizon. Speaking on GB News, Mr Farage said: “Well, it was pretty dismal stuff all round, but basically what it means today, I think, is that as we expected and as has been leaked already, taxes are going to go up.
“She wasn’t specific about which ones they would be. I think we all assume it is going to be income tax.
“But I wonder what was the point of all of that at 8.10am this morning? Was it simply to calm the markets? I simply don’t know. In fact, what was it all about?”
In her Downing Street speech, Ms Reeves warned of “hard choices” and insisted “we will all have to contribute”.
She refused to stand by Labour’s manifesto promises not to raise income tax, national insurance or VAT.
She said: “As I take my decisions on both tax and spend, I will do what is necessary to protect families from high inflation and interest rates, to protect our public services from a return to austerity and to ensure that the economy that we hand down to future generations is secure with debt under control.
“If we are to build the future of Britain together, we will all have to contribute to that effort.
“Each of us must do our bit for the security of our country and the brightness of its future.”
It comes amid intense speculation that she will hike income tax at her Budget on November 26.
If Ms Reeves does rip up the manifesto commitment and increase the basic rate of income tax, she would be the first Chancellor to do so for 50 years.