A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the chancellor

Labour had laid the ground to break a manifesto pledge on taxes for working people but has now made a U-turn

Chancellor reportedly set to abandon income tax hike plan amid fears move could anger voters

Jitters over the UK’s autumn budget grow as chancellor Rachel Reeves abandons plans to raise income tax on 26 November

A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the chancellor

There are many options on the table as the chancellor looks to raise considerable sums

The chancellor had been widely expected to increase income tax rates, which would have broken a manifesto promise.

Pound down 0.5% against dollar in early trading after chancellor drops plans for upcoming budget

A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by Rachel Reeves

The chancellor has ditched plans to increase income tax, leading to fears she will not be able to create the buffer zone needed to protect the UK from economic shocks next year

Chancellor reported to have abandoned plans over fears they could anger both voters and backbench Labour MPs

Treasury sources insist reversal follows better-than-expected economic data – with mansion tax on £2m properties considered instead

The bond markets selling UK debt, which the chancellor had spent months courting, reacted badly to her change of heart on income tax rises

Chancellor could bring in new levy on high-value properties and maintain the freeze on thresholds