Pledge on tax stands, says No 10, as rich brace for rises

LABOUR'S manifesto pledge not to raise taxes on working people still stands, Downing Street said.

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The assurance came after the Chancellor suggested she would target the wealthy as part of her Budget next month.

Rachel Reeves has acknowledged she is looking at potential tax rises and spending cuts at her November 26 statement.

With no boom in economic growth, stubbornly high inflation and the mounting costs of government debt, she will have to fill a black hole estimated at around £50 billion by some economists.