The Resolution foundation in Britain said that Rachel Reeves, Chancellor of the Exchequer could impose tax hikes in the next budget that would raise more than £20 billion for the state without violating any election pledges by targeting inheritance tax and capital gains.
Reeves is trying to fill a £22 billion ($28.9 billion) financial gap that it said it discovered in Treasury books after Labour took power after 14 years of Conservatives.
But Labour’s statement promised not to impose a number of large taxes that increase revenues, including income tax and value-added tax.
Today, the House of Commons is voting on plans to remove winter fuel subsidies from all retirees except the needy, a move that has sparked much opposition.
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