Jeremy Corbyn slams Labour’s Budget as he issues tax warning

Jeremy Corbyn has accused Rachel Reeves of not going far enough to tax high earners in her Budget. The chancellor announced an extension to the freeze on income tax thresholds, meaning more earners will soon be made to pay extra tax by “stealth”. The decision to freeze tax thresholds in this Budget from 2028/29 onwards, to help fill a £20bn black hole in public finances, will raise £8bn in 2029-30 and drag one in four workers into the highest tax band. A further 780,000 people will pay tax for the first time. “What Rachel Reeves has baked in is higher tax for the lowest earners,” the former Labour leader said.