Deputy Prime Minister and Greater Manchester MP Angela Rayner has urged the Chancellor Rachel Reeves to drop the planned welfare cuts in favour of a £4 billion tax raid on the wealthy
A leaked document seen by the Telegraph Newspaper ahead of the Spring Fiscal Statement sees Rayner urging Reeves to cancel her £5 billion of welfare cuts and to instead bring back the pension lifetime allowance
The Deputy Prime Minister also called for higher taxes on dividends, an end to inheritance tax relief on shares for the Alternative Investment Market and a long-term freeze of the highest rate of income tax
The memo says the report, was titled “alternative proposals for raising revenue”. The first line stated that the policies “would be popular, prudent, and would not raise taxes on working people”. The last phrase was a promise in Labour’s 2024 general election manifesto.
