A fundamental overhaul is needed. Wealth should be taxed more via capital-gains taxes—and the burden on labour should lighten Just a moment... Illustration: Janne Iivonen
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mandatory financial charge or other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization to collectively fund government spending, public expenditures, or
profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price
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economist.com/leaders/2026/10/01/a-hurricane-is-coming-to-tax-systems
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Key FactsReeves Proposes Major Tax Hikes in 2025 Budget
Nov 26, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- Finance Minister Rachel Reeves plans to introduce tax increases of 20 to 30 billion pounds to boost economic growth and fiscal stability.
- The budget includes support for families, reduction of hospital waiting lists, and aims to control public debt without austerity.
- Experts warn the revenue measures may fall short amid slower growth and rising public spending demands.
- Labour MPs are pushing for expanded welfare spending, complicating efforts to balance the budget.
I have to be honest that the damage done from austerity, a chaotic Brexit and the pandemic were worse than we thought.— Rachel Reeves, British finance minister, in comments shared with media ahead of her speech.
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